GQG Partners LLC Makes New Investment in Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• GQG Partners LLC invested approximately $270 million in Cincinnati Financial Corporation by acquiring 1,827,817 shares, representing about 1.17% ownership of the company.
• In the first quarter, several other institutional investors, including Spire Wealth Management and Whipplewood Advisors, significantly increased their holdings in Cincinnati Financial, reflecting strong interest in the stock.
• Cincinnati Financial reported an EPS of $1.97, exceeding analysts' expectations, but its quarterly revenue of $2.48 billion fell short of estimates, highlighting mixed financial performance.

GQG Partners LLC purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,827,817 shares of the insurance provider's stock, valued at approximately $270,005,000. GQG Partners LLC owned 1.17% of Cincinnati Financial as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CINF. Spire Wealth Management lifted its holdings in shares of Cincinnati Financial by 77.6% in the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after buying an additional 76 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new position in shares of Cincinnati Financial in the 1st quarter valued at about $30,000. GoalVest Advisory LLC raised its holdings in Cincinnati Financial by 65.4% in the 1st quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after purchasing an additional 102 shares during the period. Finally, Whipplewood Advisors LLC boosted its position in Cincinnati Financial by 333.3% during the first quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock worth $38,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Price Performance

NASDAQ:CINF opened at $151.39 on Wednesday. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74. The stock has a 50 day moving average of $148.26 and a two-hundred day moving average of $143.51. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a market cap of $23.67 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 7.43 and a beta of 0.70.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the business earned $1.29 EPS. Cincinnati Financial's quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

CINF has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Wall Street Zen raised Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Roth Capital upped their target price on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and an average target price of $159.40.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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