Ieq Capital LLC Purchases 12,240 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Ieq Capital LLC increased its stake in Cincinnati Financial Corporation by 83.6% in Q1, acquiring an additional 12,240 shares, bringing its total holdings to 26,883 shares, valued at nearly $4 million.
• Institutional investors control 65.24% of Cincinnati Financial's stock, with significant increases by firms like GAMMA Investing LLC, which raised its position by 15,698.7%.
• Cincinnati Financial reported a quarterly EPS of $1.97, exceeding estimates, and announced a quarterly dividend of $0.87, set to yield 2.3% for investors.

Ieq Capital LLC increased its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 83.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,883 shares of the insurance provider's stock after buying an additional 12,240 shares during the quarter. Ieq Capital LLC's holdings in Cincinnati Financial were worth $3,971,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Park National Corp OH raised its position in shares of Cincinnati Financial by 0.6% during the first quarter. Park National Corp OH now owns 12,686 shares of the insurance provider's stock worth $1,874,000 after acquiring an additional 72 shares during the last quarter. Spire Wealth Management boosted its holdings in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after acquiring an additional 76 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in Cincinnati Financial by 0.5% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider's stock worth $2,871,000 after acquiring an additional 91 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Cincinnati Financial by 4.1% in the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after acquiring an additional 94 shares during the period. Finally, Brass Tax Wealth Management Inc. increased its holdings in shares of Cincinnati Financial by 5.2% during the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider's stock valued at $279,000 after acquiring an additional 94 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CINF shares. Roth Capital lifted their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Stock Performance

NASDAQ:CINF traded up $0.39 during trading hours on Wednesday, reaching $153.34. The stock had a trading volume of 125,391 shares, compared to its average volume of 676,195. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $23.98 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 7.52 and a beta of 0.72. 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 simple moving average of $150.00 and a 200 day simple moving average of $145.15.

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

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.87 per share. The ex-dividend date is Monday, September 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial's dividend payout ratio is currently 30.18%.

Cincinnati Financial Profile

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.