Summit Global Investments Acquires 4,867 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Summit Global Investments raised its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,196 shares of the insurance provider’s stock after purchasing an additional 4,867 shares during the quarter. Summit Global Investments’ holdings in Cincinnati Financial were worth $9,746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CINF. Los Angeles Capital Management LLC lifted its position in shares of Cincinnati Financial by 554.7% during the third quarter. Los Angeles Capital Management LLC now owns 1,109,299 shares of the insurance provider’s stock worth $113,470,000 after purchasing an additional 939,861 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Cincinnati Financial by 1,870.3% in the third quarter. AQR Capital Management LLC now owns 274,030 shares of the insurance provider’s stock valued at $28,031,000 after acquiring an additional 260,122 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Cincinnati Financial in the fourth quarter valued at about $21,036,000. London Co. of Virginia raised its holdings in shares of Cincinnati Financial by 7.8% in the third quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock valued at $283,658,000 after acquiring an additional 200,414 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Cincinnati Financial by 122.4% in the fourth quarter. Russell Investments Group Ltd. now owns 270,815 shares of the insurance provider’s stock valued at $28,016,000 after acquiring an additional 149,043 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Insider Transactions at Cincinnati Financial

In other news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $113.47 per share, with a total value of $113,470.00. Following the purchase, the director now owns 53,988 shares in the company, valued at $6,126,018.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.83% of the company’s stock.

Cincinnati Financial Price Performance

Shares of CINF stock traded down $0.93 during trading hours on Thursday, hitting $116.37. 577,337 shares of the company’s stock were exchanged, compared to its average volume of 884,767. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.07. The firm has a market cap of $18.22 billion, a P/E ratio of 7.72, a P/E/G ratio of 2.47 and a beta of 0.63. The firm has a 50 day moving average of $117.96 and a two-hundred day moving average of $109.42. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The business’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 EPS. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.36 EPS for the current year.

Analyst Upgrades and Downgrades

CINF has been the subject of several recent research reports. Citigroup lifted their price objective on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Piper Sandler reiterated a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research report on Monday, April 1st. Finally, Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $124.50.

Cincinnati Financial Company 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.