Ashton Thomas Securities LLC Raises Position in Cincinnati Financial Corporation $CINF

Ashton Thomas Securities LLC boosted its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 45.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,313 shares of the insurance provider’s stock after purchasing an additional 1,031 shares during the period. Ashton Thomas Securities LLC’s holdings in Cincinnati Financial were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. FJ Capital Management LLC grew its holdings in Cincinnati Financial by 97.5% during the first quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider’s stock worth $4,327,000 after acquiring an additional 14,464 shares during the period. M&T Bank Corp boosted its position in shares of Cincinnati Financial by 12.7% during the 1st quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider’s stock worth $1,161,000 after purchasing an additional 887 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of Cincinnati Financial by 4.1% during the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider’s stock worth $352,000 after purchasing an additional 94 shares during the period. OLD Republic International Corp increased its holdings in shares of Cincinnati Financial by 1.0% in the 1st quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider’s stock valued at $58,955,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Merit Financial Group LLC lifted its stake in shares of Cincinnati Financial by 88.4% in the first quarter. Merit Financial Group LLC now owns 8,047 shares of the insurance provider’s stock valued at $1,189,000 after purchasing an additional 3,776 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CINF shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a report on Saturday, September 27th. Roth Capital raised their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $159.40.

Cincinnati Financial Trading Up 1.7%

Shares of Cincinnati Financial stock opened at $163.29 on Friday. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $164.03. 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 business has a 50 day moving average price of $153.62 and a 200 day moving average price of $147.45. The company has a market capitalization of $25.54 billion, a P/E ratio of 14.16, a P/E/G ratio of 7.86 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results 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 return on equity of 7.14% and a net margin of 15.59%.The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the business posted $1.29 earnings per share. Cincinnati Financial’s revenue was up 15.5% compared to the same quarter last year. Sell-side analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company 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. The ex-dividend date is Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.1%. Cincinnati Financial’s payout ratio is 30.18%.

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.