GQG Partners LLC Makes New Investment in Cincinnati Financial Corporation $CINF

Key Points

• GQG Partners purchased 1.17 million Cincinnati Financial shares in the second quarter, valued at approximately $216.7 million and representing about 0.76% of the insurer. Institutional investors collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, below the $1.82 consensus estimate, while revenue reached $4.27 billion versus expectations of $2.71 billion. Analysts expect full-year EPS of approximately $8.31.
• The stock recently opened at $168.29, below its 50-day moving average of $177.96, while analysts maintain a “Moderate Buy” consensus with an average price target of $195.40.

GQG Partners LLC bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,170,338 shares of the insurance provider's stock, valued at approximately $216,679,000. GQG Partners LLC owned approximately 0.76% of Cincinnati Financial as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CINF. Norges Bank purchased a new position in Cincinnati Financial in the 4th quarter valued at approximately $270,892,000. First Trust Advisors LP boosted its holdings in shares of Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider's stock worth $331,136,000 after acquiring an additional 784,584 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cincinnati Financial by 193.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider's stock worth $98,161,000 after acquiring an additional 396,086 shares during the period. Raymond James Financial Inc. grew its position in shares of Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider's stock valued at $119,682,000 after purchasing an additional 262,715 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of Cincinnati Financial during the 4th quarter valued at $32,692,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $168.29 on Friday. The stock's 50-day moving average is $177.96 and its 200 day moving average is $168.54. The stock has a market cap of $25.83 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 3.52 and a beta of 0.54. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The business had revenue of $4.27 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same period last year, the business posted $1.97 earnings per share. On average, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CINF. Keefe, Bruyette & Woods reduced their target price on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a report on Wednesday, August 5th. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a report on Wednesday, July 15th. Piper Sandler raised their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Bank of America cut shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Finally, Roth Capital increased their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $195.40.

About Cincinnati Financial

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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