Patton Fund Management Inc. Invests $245,000 in Cincinnati Financial Corporation $CINF

Key Points

• Patton Fund Management Inc. invested approximately $245,000 in Cincinnati Financial Corporation by purchasing 1,647 shares in the second quarter.
• Cincinnati Financial reported $1.97 earnings per share (EPS) for the last quarter, exceeding estimates and showing a 15.5% year-over-year revenue growth.
• The firm declared a quarterly dividend of $0.87, translating to an annualized dividend of $3.48 and a 2.2% yield, with the ex-dividend date on September 22.

Patton Fund Management Inc. purchased a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,647 shares of the insurance provider's stock, valued at approximately $245,000.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Cincinnati Financial by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider's stock worth $2,844,419,000 after purchasing an additional 87,773 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cincinnati Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock valued at $940,130,000 after acquiring an additional 358,018 shares during the last quarter. Invesco Ltd. lifted its position in Cincinnati Financial by 2.2% during the first quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider's stock valued at $273,062,000 after acquiring an additional 40,222 shares during the last quarter. GQG Partners LLC purchased a new stake in Cincinnati Financial during the first quarter valued at approximately $270,005,000. Finally, Johnson Investment Counsel Inc. lifted its position in Cincinnati Financial by 4.2% during the first quarter. Johnson Investment Counsel Inc. now owns 1,388,176 shares of the insurance provider's stock valued at $205,061,000 after acquiring an additional 55,487 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $156.90 on Friday. The firm has a market capitalization of $24.54 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 7.68 and a beta of 0.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The business has a fifty day moving average of $152.62 and a 200 day moving average of $146.97. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.58. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.80 billion. During the same quarter last year, the company posted $1.29 earnings per share. The firm's revenue was up 15.5% compared to the same quarter last year. As a group, research analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is 30.18%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Roth Capital increased 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 increased 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. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Cincinnati Financial has an average rating of "Moderate Buy" and an average target price of $159.40.

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.

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