Townsquare Capital LLC Boosts Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Townsquare Capital LLC grew its stake in Cincinnati Financial Co. (NASDAQ:CINFFree Report) by 159.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,701 shares of the insurance provider’s stock after acquiring an additional 2,890 shares during the quarter. Townsquare Capital LLC’s holdings in Cincinnati Financial were worth $640,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CINF. Charles Schwab Investment Management Inc. grew its stake in Cincinnati Financial by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after purchasing an additional 1,218,919 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of Cincinnati Financial by 1.1% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock valued at $178,845,000 after purchasing an additional 16,451 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in Cincinnati Financial by 10.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after purchasing an additional 107,081 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after buying an additional 277,550 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CINF. Piper Sandler raised their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Bank of America raised their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Get Our Latest Analysis on CINF

Cincinnati Financial Trading Down 0.7 %

Shares of CINF stock opened at $156.49 on Wednesday. Cincinnati Financial Co. has a 1-year low of $100.31 and a 1-year high of $161.74. The company has a market cap of $24.46 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 3.01 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a 50 day simple moving average of $144.48 and a 200-day simple moving average of $131.58.

Cincinnati Financial (NASDAQ:CINFGet Free Report) 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 return on equity of 8.25% and a net margin of 25.26%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. On average, equities research analysts expect that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.81 per share. The ex-dividend date is Thursday, December 19th. This represents a $3.24 annualized dividend and a yield of 2.07%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Cincinnati Financial Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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