3,604 Shares in Cincinnati Financial Corporation $CINF Acquired by WBI Investments LLC

Key Points

• WBI Investments LLC has acquired a new stake in Cincinnati Financial Corporation (CINF), purchasing 3,604 shares valued at approximately $532,000 in the first quarter.
• Cincinnati Financial announced a quarterly dividend of $0.87 per share, which will be paid to stockholders on October 15th, representing a 2.2% dividend yield.
• In its latest earnings report, Cincinnati Financial reported an EPS of $1.97, exceeding analyst expectations of $1.39, with revenues of $2.48 billion for the quarter.

WBI Investments LLC acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,604 shares of the insurance provider's stock, valued at approximately $532,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management boosted its position in Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after purchasing an additional 76 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Cincinnati Financial during the first quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new stake in shares of Cincinnati Financial during the first quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Cincinnati Financial during the first quarter worth $32,000. Finally, GoalVest Advisory LLC lifted its holdings in Cincinnati Financial by 65.4% during the 1st quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Roth Capital lifted their price objective 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. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Stock Up 1.1%

CINF traded up $1.61 during trading hours on Wednesday, hitting $154.88. 91,928 shares of the company's stock were exchanged, compared to its average volume of 660,407. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $161.74. The stock's 50-day moving average is $151.48 and its two-hundred day moving average is $146.21. The stock has a market cap of $24.22 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 7.59 and a beta of 0.72. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

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 firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The company's quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts predict 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. Shareholders of record on Monday, September 22nd will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's payout ratio is currently 30.18%.

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.