SCS Capital Management LLC Acquires New Shares in Cincinnati Financial Corporation $CINF

Key Points

• SCS Capital Management LLC has acquired a new position in Cincinnati Financial Corporation, purchasing 74,936 shares valued at approximately $11.07 million in the first quarter.
• Cincinnati Financial reported a net margin of 15.59% and a return on equity of 7.14%, with earnings per share of $1.97, exceeding analysts' expectations by $0.58.
• The company declared a quarterly dividend of $0.87 per share, translating to an annual yield of 2.3%, with a dividend payout ratio of 30.18%.

SCS Capital Management LLC bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 74,936 shares of the insurance provider's stock, valued at approximately $11,071,000.

Several other institutional investors and hedge funds have also modified their holdings of CINF. Spire Wealth Management boosted its holdings in shares of Cincinnati Financial by 77.6% in the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after acquiring an additional 76 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Cincinnati Financial in the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new position in shares of Cincinnati Financial in the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter worth approximately $32,000. Finally, GoalVest Advisory LLC boosted its holdings in shares of Cincinnati Financial by 65.4% in the 1st quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after acquiring an additional 102 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CINF. Roth Capital boosted their target price 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 upped their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Trading Up 0.1%

Shares of Cincinnati Financial stock traded up $0.10 on Friday, hitting $156.86. 613,681 shares of the company's stock traded hands, compared to its average volume of 407,174. The firm's 50-day moving average price is $151.16 and its two-hundred day moving average price is $146.10. The stock has a market capitalization of $24.53 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 7.67 and a beta of 0.72. Cincinnati Financial Corporation has a one year low of $123.01 and a one 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 earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.39 by $0.58. The company had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. On average, research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

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