Versor Investments LP Acquires New Shares in Cincinnati Financial Corporation $CINF

Key Points

• Versor Investments LP acquired 5,949 shares of Cincinnati Financial Corporation for approximately $879,000 in the first quarter of 2023.
• Cincinnati Financial reported earnings of $1.97 EPS, surpassing analysts' expectations of $1.39 per share, with a revenue of $2.48 billion during the quarter.
• The insurance provider's current market capitalization stands at $23.42 billion, and it has a consensus rating of "Moderate Buy" from analysts.

Versor Investments LP acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 5,949 shares of the insurance provider's stock, valued at approximately $879,000.

A number of other hedge funds have also bought and sold shares of the business. Park National Corp OH grew its stake in Cincinnati Financial by 0.6% in the 1st quarter. Park National Corp OH now owns 12,686 shares of the insurance provider's stock valued at $1,874,000 after buying an additional 72 shares in the last quarter. 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. Nissay Asset Management Corp Japan ADV grew its stake in Cincinnati Financial by 0.5% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider's stock valued at $2,871,000 after buying an additional 91 shares in the last quarter. CWA Asset Management Group LLC boosted its holdings in Cincinnati Financial by 4.1% in the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after purchasing an additional 94 shares during the period. Finally, Brass Tax Wealth Management Inc. boosted its holdings in Cincinnati Financial by 5.2% in the 1st quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider's stock valued at $279,000 after purchasing an additional 94 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $149.79 on Tuesday. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $23.42 billion, a P/E ratio of 12.99, a P/E/G ratio of 7.49 and a beta of 0.70. The company has a fifty day moving average of $148.45 and a 200-day moving average of $143.91.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data 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. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the firm posted $1.29 EPS. The firm's revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Analyst Ratings Changes

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

About Cincinnati Financial

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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