Envestnet Asset Management Inc. Boosts Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Envestnet Asset Management Inc. boosted its position in Cincinnati Financial Co. (NASDAQ:CINF) by 24.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,976 shares of the insurance provider’s stock after buying an additional 25,937 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Cincinnati Financial worth $15,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CINF. Wells Fargo & Company MN grew its position in Cincinnati Financial by 0.7% in the 4th quarter. Wells Fargo & Company MN now owns 163,196 shares of the insurance provider’s stock valued at $16,884,000 after buying an additional 1,135 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of Cincinnati Financial by 27.3% during the 4th quarter. D.A. Davidson & CO. now owns 6,541 shares of the insurance provider’s stock worth $677,000 after purchasing an additional 1,402 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Cincinnati Financial by 12.8% during the 4th quarter. Corient Private Wealth LLC now owns 31,327 shares of the insurance provider’s stock worth $3,241,000 after purchasing an additional 3,547 shares in the last quarter. Assetmark Inc. boosted its position in shares of Cincinnati Financial by 252.2% during the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 174 shares in the last quarter. Finally, Commerce Bank boosted its position in shares of Cincinnati Financial by 48.3% during the 4th quarter. Commerce Bank now owns 13,345 shares of the insurance provider’s stock worth $1,381,000 after purchasing an additional 4,349 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CINF has been the topic of several research analyst reports. Roth Mkm boosted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Bank of America cut their price target on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.57.

Cincinnati Financial Trading Down 0.0 %

NASDAQ:CINF opened at $136.19 on Wednesday. The company has a market capitalization of $21.32 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 2.60 and a beta of 0.66. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 52-week low of $96.86 and a 52-week high of $139.34. The stock has a fifty day simple moving average of $131.13 and a 200-day simple moving average of $122.57.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share 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 during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the company posted $1.21 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts expect that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.38%. The ex-dividend date is Tuesday, September 17th. 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.