5,949 Shares in Cincinnati Financial Corporation $CINF Acquired by Versor Investments LP

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 bought a new stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,949 shares of the insurance provider's stock, valued at approximately $879,000.

Several other institutional investors have also recently bought and sold shares of the company. Park National Corp OH lifted 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 acquiring an additional 72 shares in the last quarter. Spire Wealth Management lifted 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 acquiring an additional 76 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted 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 acquiring an additional 91 shares in the last quarter. CWA Asset Management Group LLC increased its position in shares of Cincinnati Financial by 4.1% during the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock worth $352,000 after purchasing an additional 94 shares during the last quarter. Finally, Brass Tax Wealth Management Inc. increased its position in shares of Cincinnati Financial by 5.2% during the 1st quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider's stock worth $279,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Up 1.6%

Shares of NASDAQ:CINF traded up $2.44 during trading on Friday, hitting $155.40. 458,350 shares of the company were exchanged, compared to its average volume of 610,878. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 7.61 and a beta of 0.70. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $161.74. The firm has a fifty day moving average price of $148.96 and a two-hundred day moving average price of $144.38.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm's revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 EPS. As a group, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share 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. Investors of record on Monday, September 22nd will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial's payout ratio is presently 30.18%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CINF shares. Roth Capital boosted their price target on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial presently has an average 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.