Invesco Ltd. Acquires 40,222 Shares of Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Invesco Ltd. increased its stake in Cincinnati Financial Corporation by 2.2% during Q1, now owning approximately 1.18% of the company, valued at $273.06 million.
• Analysts have upgraded Cincinnati Financial, with Wall Street Zen changing the rating from "sell" to "hold," while Roth Capital set a new price target of $175.00 with a "buy" rating.
• Cincinnati Financial reported earnings of $1.97 per share in the last quarter, exceeding estimates, but its revenue of $2.48 billion fell short of analysts’ expectations of $2.80 billion.

Invesco Ltd. boosted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,848,509 shares of the insurance provider's stock after acquiring an additional 40,222 shares during the quarter. Invesco Ltd. owned approximately 1.18% of Cincinnati Financial worth $273,062,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CINF. GAMMA Investing LLC lifted its position in Cincinnati Financial by 15,698.7% during the 1st quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock valued at $120,540,000 after purchasing an additional 810,840 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cincinnati Financial by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock valued at $940,130,000 after purchasing an additional 358,018 shares during the period. Topsail Wealth Management LLC acquired a new position in Cincinnati Financial during the 4th quarter valued at about $47,114,000. Caisse DE Depot ET Placement DU Quebec lifted its position in Cincinnati Financial by 62.6% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider's stock valued at $90,166,000 after purchasing an additional 241,540 shares during the period. Finally, First Trust Advisors LP lifted its position in Cincinnati Financial by 26.7% during the 4th quarter. First Trust Advisors LP now owns 980,582 shares of the insurance provider's stock valued at $140,910,000 after purchasing an additional 206,693 shares during the period. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Trading Down 2.0%

Shares of NASDAQ:CINF traded down $3.09 during mid-day trading on Friday, reaching $151.06. The stock had a trading volume of 760,775 shares, compared to its average volume of 598,658. The firm has a market cap of $23.62 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 7.49 and a beta of 0.70. The firm has a 50 day simple moving average of $148.43 and a two-hundred day simple moving average of $143.79. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $161.74.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Roth Capital upped their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Company 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.