Lighthouse Investment Partners LLC Has $9.01 Million Position in Cincinnati Financial Co. (NASDAQ:CINF)

Lighthouse Investment Partners LLC boosted its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 57.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,260 shares of the insurance provider’s stock after acquiring an additional 27,845 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Cincinnati Financial were worth $9,006,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of Cincinnati Financial by 23.3% in the second quarter. Millennium Management LLC now owns 453,631 shares of the insurance provider’s stock worth $53,574,000 after purchasing an additional 85,667 shares during the last quarter. MBB Public Markets I LLC acquired a new position in shares of Cincinnati Financial in the second quarter worth approximately $1,352,000. DoubleLine ETF Adviser LP raised its holdings in Cincinnati Financial by 5.4% during the 2nd quarter. DoubleLine ETF Adviser LP now owns 2,829 shares of the insurance provider’s stock worth $334,000 after purchasing an additional 146 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Cincinnati Financial by 7.5% in the second quarter. APG Asset Management N.V. now owns 381,127 shares of the insurance provider’s stock valued at $41,998,000 after buying an additional 26,753 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after acquiring an additional 277,550 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CINF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. 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 note on Friday, July 26th. Bank of America decreased their price target 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, Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $126.00 to $135.00 in a report on Friday, June 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Stock Performance

CINF stock opened at $134.96 on Friday. 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 $21.13 billion, a PE ratio of 8.98, a P/E/G ratio of 2.65 and a beta of 0.66. The business has a 50 day moving average of $131.29 and a 200-day moving average of $122.65. Cincinnati Financial Co. has a 12-month low of $96.86 and a 12-month high of $139.34.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 earnings per share. As a group, sell-side analysts expect that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a $0.81 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.40%. Cincinnati Financial’s dividend payout ratio is 21.56%.

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.