Wealth Enhancement Advisory Services LLC Purchases 10,406 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Wealth Enhancement Advisory Services LLC increased its ownership of Cincinnati Financial Corporation by 8.9%, purchasing an additional 10,406 shares, bringing its total to 127,791 shares valued at approximately $18.99 million.
• Cincinnati Financial reported earnings of $1.97 per share for the latest quarter, exceeding analysts' expectations of $1.39, although its revenue of $2.48 billion fell short of the expected $2.80 billion.
• The company announced a quarterly dividend of $0.87, representing an annualized yield of 2.2%, to be paid on October 15th.

Wealth Enhancement Advisory Services LLC increased its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 8.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,791 shares of the insurance provider's stock after buying an additional 10,406 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.08% of Cincinnati Financial worth $18,988,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CINF. Quintet Private Bank Europe S.A. purchased a new position in shares of Cincinnati Financial in the second quarter worth $25,000. Spire Wealth Management increased its stake in shares of Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after buying an additional 76 shares during the period. Meeder Asset Management Inc. purchased a new position in Cincinnati Financial during the 1st quarter valued at $26,000. Alpine Bank Wealth Management purchased a new position in Cincinnati Financial during the 1st quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Cincinnati Financial during the 1st quarter valued at $32,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CINF shares. Roth Capital boosted their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Stock Up 0.3%

Shares of NASDAQ:CINF traded up $0.47 during midday trading on Tuesday, reaching $155.16. The company's stock had a trading volume of 95,381 shares, compared to its average volume of 658,604. The firm has a 50 day moving average of $152.08 and a 200-day moving average of $146.58. The firm has a market capitalization of $24.26 billion, a P/E ratio of 13.46, a PEG ratio of 7.64 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 Corporation has a 12-month low of $123.01 and a 12-month high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released 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 firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company's revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. On average, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be paid a $0.87 dividend. The ex-dividend date is Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial's payout ratio is presently 30.18%.

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.