Headlands Technologies LLC Increases Position in Cincinnati Financial Co. (NASDAQ:CINF)

Headlands Technologies LLC raised its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,267 shares of the insurance provider’s stock after purchasing an additional 145 shares during the quarter. Headlands Technologies LLC’s holdings in Cincinnati Financial were worth $1,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CINF. Norges Bank bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at approximately $179,305,000. Balyasny Asset Management L.P. raised its stake in shares of Cincinnati Financial by 36.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 679,861 shares of the insurance provider’s stock valued at $70,338,000 after acquiring an additional 180,355 shares in the last quarter. Natixis bought a new stake in shares of Cincinnati Financial during the first quarter valued at approximately $22,053,000. Bank of Nova Scotia raised its stake in shares of Cincinnati Financial by 375.8% during the fourth quarter. Bank of Nova Scotia now owns 164,455 shares of the insurance provider’s stock valued at $17,014,000 after acquiring an additional 129,889 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Cincinnati Financial by 126.4% during the second quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock valued at $21,259,000 after acquiring an additional 100,487 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Bank of America reduced their price objective on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Roth Mkm boosted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.57.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $133.97 on Thursday. The business’s fifty day simple moving average is $128.21 and its 200-day simple moving average is $121.15. The company has a market cap of $20.97 billion, a PE ratio of 8.91, a PEG ratio of 2.63 and a beta of 0.66. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 12-month low of $96.86 and a 12-month high of $139.34.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.33. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.21 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. Analysts expect that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is presently 21.56%.

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.