Freestone Grove Partners LP Acquires Shares of 84,932 Cincinnati Financial Co. (NASDAQ:CINF)

Freestone Grove Partners LP acquired a new stake in Cincinnati Financial Co. (NASDAQ:CINF) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 84,932 shares of the insurance provider’s stock, valued at approximately $12,205,000. Freestone Grove Partners LP owned about 0.05% of Cincinnati Financial as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cincinnati Financial in the 4th quarter valued at $27,000. Y.D. More Investments Ltd lifted its stake in shares of Cincinnati Financial by 121.8% in the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 106 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Cincinnati Financial by 157.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 205 shares during the period. McClarren Financial Advisors Inc. acquired a new position in shares of Cincinnati Financial in the 4th quarter valued at $50,000. Finally, Kentucky Trust Co acquired a new position in shares of Cincinnati Financial in the 4th quarter valued at $51,000. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CINF has been the topic of a number of analyst reports. Roth Mkm increased their price target on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. StockNews.com raised Cincinnati Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their price objective on Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.40.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $139.84 on Friday. The company has a market capitalization of $21.86 billion, a PE ratio of 9.63, a PEG ratio of 8.30 and a beta of 0.53. Cincinnati Financial Co. has a 12 month low of $111.92 and a 12 month high of $161.75. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $139.41 and its 200 day simple moving average is $142.53.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.37. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the business posted $1.72 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, research analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current year.

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.