Argent Trust Co Raises Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Argent Trust Co increased its position in Cincinnati Financial Co. (NASDAQ:CINF) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,009 shares of the insurance provider’s stock after acquiring an additional 95 shares during the period. Argent Trust Co’s holdings in Cincinnati Financial were worth $237,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CINF. Assetmark Inc. grew its holdings in Cincinnati Financial by 252.2% in the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Cincinnati Financial in the 2nd quarter valued at about $29,000. Raleigh Capital Management Inc. purchased a new position in Cincinnati Financial during the 4th quarter valued at about $31,000. Future Financial Wealth Managment LLC acquired a new position in Cincinnati Financial during the first quarter worth about $47,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cincinnati Financial in the second quarter valued at about $49,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Roth Mkm boosted their price target on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods increased their price objective 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, Bank of America cut their target price on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Four 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, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $134.63 on Friday. The firm has a market capitalization of $21.08 billion, a PE ratio of 8.96, a P/E/G ratio of 2.60 and a beta of 0.66. Cincinnati Financial Co. has a 12 month low of $96.86 and a 12 month high of $139.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The business has a 50-day moving average of $130.65 and a two-hundred day moving average of $122.20.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly 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. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm posted $1.21 earnings per share. Cincinnati Financial’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts forecast that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 annualized dividend and a dividend yield of 2.41%. Cincinnati Financial’s payout ratio is 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.