Legacy Advisors LLC Invests $447,000 in Cincinnati Financial Corporation (NASDAQ:CINF)

Legacy Advisors LLC bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,006 shares of the insurance provider's stock, valued at approximately $447,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CINF. Norges Bank purchased a new stake in Cincinnati Financial during the fourth quarter valued at approximately $223,959,000. GAMMA Investing LLC raised its holdings in shares of Cincinnati Financial by 15,698.7% in the first quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock worth $120,540,000 after buying an additional 810,840 shares during the last quarter. Topsail Wealth Management LLC purchased a new position in shares of Cincinnati Financial in the fourth quarter worth $47,114,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Cincinnati Financial by 62.6% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider's stock worth $90,166,000 after buying an additional 241,540 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cincinnati Financial by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock worth $863,099,000 after buying an additional 224,033 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price target on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Cincinnati Financial has an average rating of "Moderate Buy" and an average target price of $150.50.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF traded up $0.47 during midday trading on Friday, reaching $146.23. The company had a trading volume of 1,007,403 shares, compared to its average volume of 656,574. The stock has a market cap of $22.86 billion, a P/E ratio of 15.95, a P/E/G ratio of 9.71 and a beta of 0.78. Cincinnati Financial Corporation has a 1 year low of $114.75 and a 1 year high of $161.75. The business's 50-day simple moving average is $145.35 and its 200 day simple moving average is $142.06. 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 (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.61) by $0.37. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.70 billion. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The business's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 earnings per share. On average, analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be paid a $0.87 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.38%. Cincinnati Financial's payout ratio is currently 37.95%.

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.