Axxcess Wealth Management LLC Takes Position in Cincinnati Financial Co. (NASDAQ:CINF)

Axxcess Wealth Management LLC purchased a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,568 shares of the insurance provider’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CINF. AQR Capital Management LLC increased its holdings in shares of Cincinnati Financial by 39.4% during the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after acquiring an additional 277,550 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after buying an additional 187,934 shares in the last quarter. Natixis bought a new stake in Cincinnati Financial in the 1st quarter worth about $22,053,000. Bahl & Gaynor Inc. increased its holdings in Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after buying an additional 107,081 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in Cincinnati Financial by 126.4% in the 2nd quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock worth $21,259,000 after buying an additional 100,487 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Trading Down 0.8 %

Shares of NASDAQ:CINF opened at $149.55 on Friday. The stock has a market capitalization of $23.38 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 2.87 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s 50-day simple moving average is $138.95 and its two-hundred day simple moving average is $127.73. Cincinnati Financial Co. has a 52-week low of $99.61 and a 52-week high of $152.30.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the firm earned $1.66 earnings per share. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. Analysts expect that Cincinnati Financial Co. will post 6.35 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.81 per share. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.17%. Cincinnati Financial’s payout ratio is currently 16.65%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America lifted their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Roth Mkm lifted their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Piper Sandler lifted their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.57.

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.