Vanguard Group Inc. Increases Holdings in Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Vanguard Group Inc. increased its stake in Cincinnati Financial Corporation by 0.5%, holding a total of over 19 million shares worth approximately $2.84 billion, as disclosed in a recent 13F filing.
• Other institutional investors also significantly adjusted their positions, with GAMMA Investing LLC raising its holdings by 15,698.7%, now owning over 800,000 shares valued at $120 million.
• Cincinnati Financial reported a quarterly EPS of $1.97, exceeding expectations, and analysts anticipate it will achieve earnings of $5.36 per share for the current year.

Vanguard Group Inc. lifted its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 0.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,255,478 shares of the insurance provider's stock after purchasing an additional 87,773 shares during the period. Vanguard Group Inc. owned 12.32% of Cincinnati Financial worth $2,844,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Northern Trust Corp increased its stake in shares of Cincinnati Financial by 10.8% in the 4th quarter. Northern Trust Corp now owns 1,672,210 shares of the insurance provider's stock worth $240,297,000 after purchasing an additional 162,714 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cincinnati Financial by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,415,742 shares of the insurance provider's stock worth $203,438,000 after purchasing an additional 34,810 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Cincinnati Financial by 4.2% in the 1st quarter. Johnson Investment Counsel Inc. now owns 1,388,176 shares of the insurance provider's stock worth $205,061,000 after purchasing an additional 55,487 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cincinnati Financial by 20.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,099,439 shares of the insurance provider's stock worth $157,989,000 after purchasing an additional 189,430 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Cincinnati Financial by 26.7% in the 4th quarter. First Trust Advisors LP now owns 980,582 shares of the insurance provider's stock worth $140,910,000 after purchasing an additional 206,693 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CINF shares. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Roth Capital upped their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Price Performance

Shares of CINF traded up $0.76 during midday trading on Wednesday, hitting $152.15. 101,907 shares of the company traded hands, compared to its average volume of 694,049. The firm has a 50 day moving average of $148.26 and a 200-day moving average of $143.51. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $161.74. The stock has a market cap of $23.79 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 7.43 and a beta of 0.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, beating 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 business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The business's revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

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.