Eastern Bank Purchases New Shares in Cincinnati Financial Co. (NASDAQ:CINF)

Eastern Bank acquired a new position in Cincinnati Financial Co. (NASDAQ:CINF) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,236 shares of the insurance provider’s stock, valued at approximately $168,000.

A number of other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. boosted its stake in shares of Cincinnati Financial by 7.4% in the third quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock valued at $155,000 after buying an additional 79 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Cincinnati Financial by 1.3% in 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 period. iA Global Asset Management Inc. raised its stake in Cincinnati Financial by 4.3% in the second quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 95 shares in the last quarter. Finally, Argent Trust Co lifted its position 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 period. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the subject of several analyst reports. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $126.00 to $135.00 in a research report on Friday, June 28th. Roth Mkm boosted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Bank of America raised their target price on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average target price of $136.29.

Cincinnati Financial Stock Down 0.5 %

Shares of NASDAQ:CINF opened at $138.24 on Friday. 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 52-week low of $96.86 and a 52-week high of $142.25. The company has a market capitalization of $21.64 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. The company has a fifty day moving average of $135.69 and a 200-day moving average of $125.00.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating the consensus estimate of $0.96 by $0.33. The firm had revenue of $2.08 billion during 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 last year, the company earned $1.21 earnings per share. On average, equities analysts predict that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were issued a $0.81 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.34%. Cincinnati Financial’s dividend payout ratio (DPR) 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.