Oppenheimer & Co. Inc. Buys 1,311 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Oppenheimer & Co. Inc. increased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 8.7% during the second quarter, HoldingsChannel reports. The fund owned 16,434 shares of the insurance provider’s stock after acquiring an additional 1,311 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cincinnati Financial were worth $1,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CINF. Assetmark Inc. raised its stake in shares of Cincinnati Financial by 252.2% in the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after buying an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Cincinnati Financial in the 2nd quarter valued at $29,000. Raleigh Capital Management Inc. acquired a new position in shares of Cincinnati Financial in the 4th quarter valued at $31,000. Future Financial Wealth Managment LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at $47,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Cincinnati Financial in the 2nd quarter valued at $49,000. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CINF. Bank of America dropped 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. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $126.00 to $135.00 in a research report on Friday, June 28th. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Roth Mkm increased their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report 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 company has a consensus rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Stock Up 1.0 %

Shares of NASDAQ:CINF opened at $137.18 on Tuesday. Cincinnati Financial Co. has a 12 month low of $96.86 and a 12 month high of $139.34. The company’s 50-day moving average price is $129.39 and its two-hundred day moving average price is $121.68. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. The firm has a market cap of $21.48 billion, a P/E ratio of 9.13, a P/E/G ratio of 2.60 and a beta of 0.66.

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

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio is currently 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.