Sagespring Wealth Partners LLC Grows Stock Holdings in Cincinnati Financial Corporation $CINF

Sagespring Wealth Partners LLC grew its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 51.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,222 shares of the insurance provider’s stock after acquiring an additional 750 shares during the period. Sagespring Wealth Partners LLC’s holdings in Cincinnati Financial were worth $331,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC raised its stake in shares of Cincinnati Financial by 5.0% during the 2nd quarter. ORG Partners LLC now owns 1,509 shares of the insurance provider’s stock valued at $226,000 after purchasing an additional 72 shares during the period. Spire Wealth Management increased its position in shares of Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock valued at $26,000 after buying an additional 76 shares during the period. 3Chopt Investment Partners LLC increased its position in shares of Cincinnati Financial by 5.7% during the second quarter. 3Chopt Investment Partners LLC now owns 1,641 shares of the insurance provider’s stock valued at $246,000 after buying an additional 89 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of Cincinnati Financial by 4.1% in the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider’s stock worth $352,000 after buying an additional 94 shares in the last quarter. Finally, Brass Tax Wealth Management Inc. boosted its position in shares of Cincinnati Financial by 5.2% in the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider’s stock valued at $279,000 after acquiring an additional 94 shares during the period. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Stock Up 1.1%

CINF stock opened at $153.02 on Friday. The company’s 50 day moving average is $155.54 and its 200 day moving average is $148.34. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 7.09 and a beta of 0.72. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $166.90.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.58. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the business posted $1.29 earnings per share. Cincinnati Financial’s revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, September 22nd. Cincinnati Financial’s dividend payout ratio is currently 30.18%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CINF shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Roth Capital upped their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.25.

Cincinnati Financial 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.