Cincinnati Financial Corporation (NASDAQ:CINF) Position Increased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Cincinnati Financial Corporation by 7.2%, owning 61,307 shares valued at approximately $9 million after acquiring additional shares in the first quarter.
• Several institutional investors have also bolstered their stakes, including Spire Wealth Management, which raised its investment by 77.6%, and Whipplewood Advisors, which increased its stake by 333.3%.
• Cincinnati Financial reported earnings of $1.97 per share, beating estimates, with a net margin of 15.59% and revenue of $2.48 billion for the quarter, despite falling short of the $2.80 billion forecast.

Resona Asset Management Co. Ltd. boosted its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,307 shares of the insurance provider's stock after acquiring an additional 4,137 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Cincinnati Financial were worth $9,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management increased its position in shares of Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after acquiring an additional 76 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Cincinnati Financial in the first quarter worth about $26,000. Alpine Bank Wealth Management acquired a new position in Cincinnati Financial in the first quarter valued at approximately $30,000. GoalVest Advisory LLC grew its holdings in shares of Cincinnati Financial by 65.4% during the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 102 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its holdings in shares of Cincinnati Financial by 333.3% during the first quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Stock Down 2.0%

Shares of CINF traded down $3.09 during mid-day trading on Friday, reaching $151.06. The company's stock had a trading volume of 760,775 shares, compared to its average volume of 598,658. The business has a fifty day moving average of $148.43 and a 200 day moving average of $143.79. The company has a market cap of $23.62 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 7.49 and a beta of 0.70. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its 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. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the company earned $1.29 earnings per share. The company's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of recent analyst reports. Roth Capital increased their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Cincinnati Financial currently has a consensus 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.