First Trust Advisors LP Purchases 784,584 Shares of Cincinnati Financial Corporation $CINF

Key Points

• First Trust Advisors LP increased its stake in Cincinnati Financial by 59.4% in the first quarter, buying 784,584 additional shares and lifting its total holding to 2,104,457 shares valued at about $331.1 million.
• Cincinnati Financial reported better-than-expected quarterly earnings, posting $2.10 EPS versus the $1.93 estimate and revenue of $2.86 billion, up 11.6% year over year.
• The company also paid a quarterly dividend of $0.94 per share, implying an annualized dividend of $3.76 and a yield of 2.1%; analysts currently rate the stock a Moderate Buy with an average target price of $192.40.

First Trust Advisors LP raised its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 59.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,104,457 shares of the insurance provider's stock after purchasing an additional 784,584 shares during the quarter. First Trust Advisors LP owned 1.36% of Cincinnati Financial worth $331,136,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in Cincinnati Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider's stock valued at $671,265,000 after acquiring an additional 25,888 shares during the period. Avanza Fonder AB boosted its stake in shares of Cincinnati Financial by 40.9% in the fourth quarter. Avanza Fonder AB now owns 13,447 shares of the insurance provider's stock worth $2,196,000 after acquiring an additional 3,904 shares during the period. SG Americas Securities LLC boosted its stake in shares of Cincinnati Financial by 443.5% in the fourth quarter. SG Americas Securities LLC now owns 134,351 shares of the insurance provider's stock worth $21,942,000 after acquiring an additional 109,631 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth about $1,231,000. Finally, Sequoia Financial Advisors LLC grew its position in shares of Cincinnati Financial by 22.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 17,574 shares of the insurance provider's stock worth $2,870,000 after purchasing an additional 3,216 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Trading Up 0.1%

Shares of CINF stock opened at $180.51 on Wednesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $27.92 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 3.69 and a beta of 0.54. Cincinnati Financial Corporation has a 12-month low of $143.87 and a 12-month high of $194.81. The stock's 50-day moving average price is $172.64 and its 200-day moving average price is $166.21.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the company earned ($0.24) earnings per share. The firm's revenue was up 11.6% on a year-over-year basis. Equities research analysts predict that Cincinnati Financial Corporation will post 8.76 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, June 23rd. Cincinnati Financial's dividend payout ratio is currently 21.50%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Roth Capital boosted their price target on Cincinnati Financial from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $201.00 price objective (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Bank of America reduced their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings raised shares of Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, June 26th. Finally, Piper Sandler upped their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.40.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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