L. Roy Papp & Associates LLP Makes New Investment in Cincinnati Financial Co. (NASDAQ:CINF)

L. Roy Papp & Associates LLP acquired a new stake in Cincinnati Financial Co. (NASDAQ:CINF) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,688 shares of the insurance provider’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in shares of Cincinnati Financial by 5.1% during the 4th quarter. Wellington Management Group LLP now owns 17,486 shares of the insurance provider’s stock worth $1,809,000 after buying an additional 853 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Cincinnati Financial by 24.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 85,475 shares of the insurance provider’s stock worth $10,613,000 after purchasing an additional 16,735 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Cincinnati Financial by 117.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,558 shares of the insurance provider’s stock worth $566,000 after purchasing an additional 2,461 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Cincinnati Financial by 25.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,086 shares of the insurance provider’s stock valued at $2,494,000 after purchasing an additional 4,024 shares in the last quarter. Finally, Norden Group LLC acquired a new position in shares of Cincinnati Financial during the first quarter valued at about $354,000. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 2.2 %

Shares of CINF stock traded up $3.01 during trading hours on Friday, reaching $141.25. The company had a trading volume of 857,205 shares, compared to its average volume of 708,543. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a 12 month low of $96.86 and a 12 month high of $142.25. The business has a fifty day simple moving average of $136.06 and a 200-day simple moving average of $125.26.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the business posted $1.66 earnings per share. Cincinnati Financial’s revenue was up 21.5% on a year-over-year basis. On average, research analysts expect that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Tuesday, September 17th. Cincinnati Financial’s payout ratio is 21.56%.

Analysts Set New Price Targets

CINF has been the subject of several research reports. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm boosted their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $136.29.

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.