Alpine Bank Wealth Management Buys Shares of 200 Cincinnati Financial Corporation (NASDAQ:CINF)

Alpine Bank Wealth Management bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 200 shares of the insurance provider’s stock, valued at approximately $30,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Cincinnati Financial by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider’s stock worth $2,754,399,000 after acquiring an additional 173,417 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cincinnati Financial by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider’s stock valued at $863,099,000 after acquiring an additional 224,033 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cincinnati Financial by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 3,930,022 shares of the insurance provider’s stock valued at $563,323,000 after purchasing an additional 185,705 shares during the period. Northern Trust Corp lifted its position in shares of Cincinnati Financial by 10.8% in the fourth quarter. Northern Trust Corp now owns 1,672,210 shares of the insurance provider’s stock worth $240,297,000 after purchasing an additional 162,714 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth approximately $223,959,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 1.4%

Shares of NASDAQ CINF opened at $145.76 on Friday. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 9.54 and a beta of 0.78. The business has a 50 day simple moving average of $145.07 and a 200 day simple moving average of $142.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Corporation has a 52 week low of $114.41 and a 52 week high of $161.75.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, April 28th. The insurance provider reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.37. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.70 billion. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.72 earnings per share. On average, research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial’s dividend payout ratio is presently 37.95%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods dropped their price target on shares of 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.40.

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.