1,920 Shares in Cincinnati Financial Corporation $CINF Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC acquired a new stake in Cincinnati Financial Corporation, purchasing 1,920 shares valued at approximately $285,000 in the second quarter.
• Cincinnati Financial reported earnings of $1.97 per share for the last quarter, exceeding estimates by $0.58, alongside a quarterly revenue of $2.48 billion.
• The company declared a quarterly dividend of $0.87 per share, with an annualized yield of 2.2%, to be paid on October 15th.

NorthCrest Asset Manangement LLC purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,920 shares of the insurance provider's stock, valued at approximately $285,000.

Several other large investors have also bought and sold shares of CINF. Quintet Private Bank Europe S.A. purchased a new position in shares of Cincinnati Financial in the 2nd quarter valued at approximately $25,000. Spire Wealth Management lifted its position in Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 76 shares during the period. Meeder Asset Management Inc. bought a new stake in Cincinnati Financial during the first quarter worth about $26,000. Alpine Bank Wealth Management purchased a new stake in Cincinnati Financial in the first quarter worth about $30,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of Cincinnati Financial during the first quarter valued at approximately $32,000. 65.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CINF. Roth Capital increased their price objective 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 raised their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Cincinnati Financial currently has an average rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Price Performance

Shares of CINF traded down $1.42 during mid-day trading on Monday, hitting $154.69. 357,860 shares of the stock were exchanged, compared to its average volume of 430,549. The firm has a 50-day moving average of $152.08 and a two-hundred day moving average of $146.58. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $161.74. 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 company has a market cap of $24.19 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 7.64 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings results 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 company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. Cincinnati Financial's revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 earnings per share. On average, equities analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company 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 of this dividend is Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial's dividend payout ratio is presently 30.18%.

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.