32,802 Shares in Cincinnati Financial Co. (NASDAQ:CINF) Bought by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. acquired a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 32,802 shares of the insurance provider’s stock, valued at approximately $3,795,000. Cincinnati Financial accounts for about 1.3% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its 12th largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Cincinnati Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after purchasing an additional 80 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in Cincinnati Financial by 4.3% during the second quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 95 shares during the last quarter. Argent Trust Co lifted its stake in Cincinnati Financial by 5.0% during the second quarter. Argent Trust Co now owns 2,009 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 95 shares during the last quarter. Trust Co. of Vermont lifted its stake in Cincinnati Financial by 9.4% in the fourth quarter. Trust Co. of Vermont now owns 1,389 shares of the insurance provider’s stock valued at $144,000 after buying an additional 119 shares during the last quarter. Finally, Mayflower Financial Advisors LLC lifted its stake in Cincinnati Financial by 6.2% in the second quarter. Mayflower Financial Advisors LLC now owns 2,147 shares of the insurance provider’s stock valued at $254,000 after buying an additional 126 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CINF shares. Roth Mkm raised their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Bank of America cut their target price on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. 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. Finally, Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.57.

Cincinnati Financial Price Performance

Shares of CINF opened at $137.28 on Wednesday. The firm has a market capitalization of $21.49 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 2.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. Cincinnati Financial Co. has a one year low of $96.86 and a one year high of $139.34. The stock’s fifty day moving average is $132.40 and its 200-day moving average is $123.16.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.21 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. Equities analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is currently 21.56%.

Cincinnati Financial 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.