Freestone Grove Partners LP Takes Position in Cincinnati Financial Co. (NASDAQ:CINF)

Freestone Grove Partners LP acquired a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 84,932 shares of the insurance provider's stock, valued at approximately $12,205,000. Freestone Grove Partners LP owned 0.05% of Cincinnati Financial 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. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth $27,000. Y.D. More Investments Ltd increased its stake in Cincinnati Financial by 121.8% in the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider's stock worth $28,000 after buying an additional 106 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Cincinnati Financial by 157.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider's stock valued at $48,000 after acquiring an additional 205 shares during the period. McClarren Financial Advisors Inc. purchased a new position in shares of Cincinnati Financial in the fourth quarter valued at about $50,000. Finally, Kentucky Trust Co bought a new position in shares of Cincinnati Financial in the fourth quarter worth about $51,000. Institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

CINF has been the subject of several recent analyst reports. Roth Mkm upped their price target on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods decreased their price target on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, StockNews.com upgraded Cincinnati Financial from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average target price of $147.40.

Cincinnati Financial Price Performance

CINF stock traded up $0.31 during trading on Monday, hitting $143.89. 374,532 shares of the company's stock traded hands, compared to its average volume of 660,948. Cincinnati Financial Co. has a 52 week low of $111.92 and a 52 week high of $161.75. The stock has a market capitalization of $22.49 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 8.30 and a beta of 0.53. The business has a fifty day simple moving average of $139.48 and a 200 day simple moving average of $142.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.37. The company had revenue of $2.34 billion for the quarter, compared to analysts' expectations of $2.70 billion. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. The firm's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 earnings per share. As a group, research analysts expect that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.42%. Cincinnati Financial's dividend payout ratio is currently 37.95%.

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.