Nuveen LLC Takes Position in Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Nuveen LLC acquired a new stake in Cincinnati Financial Corporation, purchasing 318,644 shares valued at approximately $47,070,000, representing about 0.20% ownership as reported in its recent SEC filing.
• Several institutional investors, including Spire Wealth Management and Meeder Asset Management, have significantly increased their stakes in Cincinnati Financial, indicating growing confidence in the firm's performance.
• Cincinnati Financial reported $1.97 earnings per share for the last quarter, exceeding analysts' estimates, with revenue also showing a year-over-year increase despite falling short of consensus expectations.

Nuveen LLC acquired 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 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 318,644 shares of the insurance provider's stock, valued at approximately $47,070,000. Nuveen LLC owned approximately 0.20% of Cincinnati Financial as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management lifted its stake 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 purchasing an additional 76 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Cincinnati Financial in the first quarter worth about $26,000. Alpine Bank Wealth Management bought a new stake in Cincinnati Financial in the first quarter worth about $30,000. Capital Advisors Ltd. LLC lifted its stake in Cincinnati Financial by 5,000.0% in the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock worth $38,000 after purchasing an additional 250 shares during the last quarter. Finally, GoalVest Advisory LLC lifted its stake in Cincinnati Financial by 65.4% in the first 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 last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Trading Up 0.1%

NASDAQ CINF opened at $154.15 on Friday. The company has a market capitalization of $24.11 billion, a PE ratio of 13.37, a P/E/G ratio of 7.64 and a beta of 0.70. The company has a fifty day moving average of $148.43 and a 200 day moving average of $143.67. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. The business had revenue of $2.48 billion during 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%. The company's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Research analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CINF shares. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Roth Capital lifted their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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