147,846 Shares in Cincinnati Financial Corporation $CINF Purchased by NFJ Investment Group LLC

NFJ Investment Group LLC purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 147,846 shares of the insurance provider’s stock, valued at approximately $27,372,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in shares of Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 83 shares during the last quarter. Motiv8 Investments LLC purchased a new position in Cincinnati Financial in the 4th quarter valued at $29,000. Cassaday & Co Wealth Management LLC purchased a new position in Cincinnati Financial in the 1st quarter valued at $34,000. DV Equities LLC acquired a new position in Cincinnati Financial in the 4th quarter valued at $36,000. Finally, Legacy Wealth Managment LLC ID increased its stake in Cincinnati Financial by 78.8% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock valued at $40,000 after buying an additional 108 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $168.19 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81. The firm has a market capitalization of $25.81 billion, a P/E ratio of 7.93, a PEG ratio of 3.53 and a beta of 0.54. The company’s fifty day moving average is $177.98 and its two-hundred day moving average is $168.54.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the prior year, the business earned $1.97 EPS. Analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on CINF shares. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a report on Wednesday, July 15th. Roth Capital lifted their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, August 6th. Piper Sandler increased their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods cut their target price on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $195.40.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.