US Bancorp DE Acquires 5,703 Shares of Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• US Bancorp DE increased its stake in Cincinnati Financial Corporation by 1.2%, owning 470,728 shares valued at approximately $69.5 million as of its latest SEC filing.
• Cincinnati Financial reported earnings per share of $1.97 for the last quarter, significantly exceeding analysts' expectations of $1.39.
• Wall Street analysts have issued a consensus rating of "Moderate Buy" for Cincinnati Financial, with a target price of $159.20.

US Bancorp DE lifted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 470,728 shares of the insurance provider's stock after buying an additional 5,703 shares during the period. US Bancorp DE owned approximately 0.30% of Cincinnati Financial worth $69,536,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CINF. Spire Wealth Management grew its stake in Cincinnati Financial by 77.6% in the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after buying an additional 76 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Cincinnati Financial during the 1st quarter valued at $26,000. Alpine Bank Wealth Management purchased a new position in shares of Cincinnati Financial in the 1st quarter worth about $30,000. Capital Advisors Ltd. LLC raised its stake in shares of Cincinnati Financial by 5,000.0% during the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock worth $38,000 after acquiring an additional 250 shares in the last quarter. Finally, GoalVest Advisory LLC increased its stake in 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 purchasing an additional 102 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CINF. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $150.00 to $167.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Roth Capital raised their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock 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 given a buy rating to the company. Based on data from MarketBeat, Cincinnati Financial has an average rating of "Moderate Buy" and a consensus price target of $159.20.

Cincinnati Financial Price Performance

Shares of CINF stock traded up $3.55 on Monday, reaching $149.74. The company's stock had a trading volume of 523,334 shares, compared to its average volume of 603,912. The company has a market capitalization of $23.42 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 7.39 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 stock's fifty day simple moving average is $148.04 and its 200-day simple moving average is $142.94. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

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

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.