Edgestream Partners L.P. Makes New Investment in Cincinnati Financial Co. (NASDAQ:CINF)

Edgestream Partners L.P. bought a new position in Cincinnati Financial Co. (NASDAQ:CINF) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 28,348 shares of the insurance provider’s stock, valued at approximately $3,859,000.

Several other hedge funds also recently made changes to their positions in CINF. Charles Schwab Investment Management Inc. increased its stake in shares of 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 worth $787,076,000 after buying an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Cincinnati Financial by 583.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock worth $52,531,000 after buying an additional 329,435 shares during the period. AQR Capital Management LLC increased its stake 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 period. Dimensional Fund Advisors LP increased its stake in shares of Cincinnati Financial by 16.2% in the second 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 during the period. Finally, Bahl & Gaynor Inc. increased its stake in shares of Cincinnati Financial by 10.6% in the second 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 during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Cincinnati Financial Stock Down 0.2 %

Shares of Cincinnati Financial stock opened at $159.83 on Friday. Cincinnati Financial Co. has a 12-month low of $100.31 and a 12-month high of $161.74. The company has a market cap of $24.98 billion, a P/E ratio of 8.21, a PEG ratio of 3.06 and a beta of 0.65. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $143.65 and its two-hundred day simple moving average is $130.95.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS 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 business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm posted $1.66 EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis. Research analysts anticipate that Cincinnati Financial Co. will post 6.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

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.