Woodline Partners LP Increases Stake in Cincinnati Financial Corporation $CINF

Key Points

• Woodline Partners LP significantly increased its stake in Cincinnati Financial Corporation by 3,392.1%, acquiring an additional 318,413 shares in the first quarter.
• Recent analyst reports indicate a positive outlook for Cincinnati Financial, with target price increases from several institutions, including Roth Capital raising it to $175.00.
• Cincinnati Financial is set to pay a quarterly dividend of $0.87 on October 15th, representing an annualized yield of 2.3% based on a payout ratio of 30.18%.

Woodline Partners LP lifted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 3,392.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 327,800 shares of the insurance provider's stock after buying an additional 318,413 shares during the quarter. Woodline Partners LP owned approximately 0.21% of Cincinnati Financial worth $48,423,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CINF. Spire Wealth Management grew its position in Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 76 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Cincinnati Financial during the 1st quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new stake in Cincinnati Financial during the 1st quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Cincinnati Financial during the 1st quarter valued at about $32,000. Finally, GoalVest Advisory LLC grew its position in Cincinnati Financial by 65.4% during the 1st quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 102 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on CINF shares. Keefe, Bruyette & Woods increased 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. Roth Capital upped their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF traded up $0.10 during trading on Friday, hitting $156.86. The company's stock had a trading volume of 613,681 shares, compared to its average volume of 407,174. The company has a 50-day moving average of $151.16 and a 200-day moving average of $146.10. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market cap of $24.53 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 7.67 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping 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 analysts' expectations of $2.80 billion. During the same quarter in the prior year, the business earned $1.29 EPS. The business's quarterly revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be paid a dividend of $0.87 per share. 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 dividend payout ratio (DPR) 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.