EverSource Wealth Advisors LLC Grows Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

EverSource Wealth Advisors LLC raised its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 157.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 335 shares of the insurance provider’s stock after buying an additional 205 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Cincinnati Financial were worth $48,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oak Thistle LLC raised its stake in Cincinnati Financial by 177.8% in the fourth quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock valued at $1,232,000 after buying an additional 5,485 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Cincinnati Financial in the third quarter worth about $546,000. JPMorgan Chase & Co. raised its stake in shares of Cincinnati Financial by 49.5% in the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after purchasing an additional 147,542 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Cincinnati Financial by 2.7% in the third quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock worth $26,019,000 after purchasing an additional 5,097 shares during the last quarter. Finally, New York Life Investment Management LLC raised its stake in shares of Cincinnati Financial by 11.5% in the fourth quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider’s stock worth $3,322,000 after purchasing an additional 2,383 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Up 1.2 %

Shares of CINF opened at $147.68 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 12 month low of $109.93 and a 12 month high of $161.75. The stock’s 50 day moving average is $139.67 and its two-hundred day moving average is $142.28. The firm has a market cap of $23.12 billion, a P/E ratio of 10.17, a PEG ratio of 8.30 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. Analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.36%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s payout ratio is presently 23.97%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Roth Mkm raised their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

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.