Cincinnati Financial Corporation $CINF Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 38.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,144 shares of the insurance provider’s stock after buying an additional 867 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Cincinnati Financial were worth $468,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. purchased a new position in Cincinnati Financial in the second quarter worth approximately $25,000. Spire Wealth Management increased its position in shares of Cincinnati Financial by 77.6% in 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. acquired a new stake in shares of Cincinnati Financial in the 1st quarter valued at $26,000. Alpine Bank Wealth Management purchased a new stake in shares of Cincinnati Financial during the 1st quarter worth $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Cincinnati Financial during the 1st quarter worth $32,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Up 1.1%

Cincinnati Financial stock opened at $153.02 on Friday. The company has a market capitalization of $23.93 billion, a P/E ratio of 13.27, a PEG ratio of 7.16 and a beta of 0.72. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $166.90. The stock has a 50-day simple moving average of $155.54 and a 200-day simple moving average of $148.35.

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

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were given a $0.87 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.48 annualized dividend and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio is 30.18%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Roth Capital increased their target price on Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $157.25.

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.