Woodline Partners LP Grows Position 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 raised its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 3,392.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 327,800 shares of the insurance provider's stock after buying an additional 318,413 shares during the period. Woodline Partners LP owned about 0.21% of Cincinnati Financial worth $48,423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC purchased a new stake in Cincinnati Financial in the 1st quarter worth $270,005,000. GAMMA Investing LLC lifted its holdings in Cincinnati Financial by 15,698.7% during the first quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock valued at $120,540,000 after purchasing an additional 810,840 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in Cincinnati Financial by 558.8% during the first quarter. Raymond James Financial Inc. now owns 540,950 shares of the insurance provider's stock valued at $79,909,000 after purchasing an additional 458,841 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cincinnati Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock valued at $940,130,000 after purchasing an additional 358,018 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Cincinnati Financial during the first quarter valued at $47,070,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Trading Up 0.1%

Shares of NASDAQ CINF traded up $0.10 during trading on Friday, hitting $156.86. 613,681 shares of the company were exchanged, compared to its average volume of 665,822. 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 quick ratio of 0.29 and a current ratio of 0.29. The company has a fifty day moving average price of $151.16 and a 200-day moving average price of $146.06. The firm has a market capitalization of $24.53 billion, a PE ratio of 13.60, a P/E/G ratio of 7.45 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the firm earned $1.29 EPS. The company's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Roth Capital increased their price objective 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. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Cincinnati Financial has a consensus rating of "Moderate Buy" and a consensus 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.