Truvestments Capital LLC Takes $636,000 Position in Cincinnati Financial Co. (NASDAQ:CINF)

Truvestments Capital LLC bought a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the third quarter, Holdings Channel.com reports. The fund bought 4,671 shares of the insurance provider’s stock, valued at approximately $636,000.

A number of other large investors have also added to or reduced their stakes in CINF. Charles Schwab Investment Management Inc. increased its holdings in shares of Cincinnati Financial by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after purchasing an additional 1,218,919 shares during the last quarter. AQR Capital Management LLC grew its stake in Cincinnati Financial by 39.4% in the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after buying an additional 277,550 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after acquiring an additional 187,934 shares during the period. Bahl & Gaynor Inc. lifted its position in Cincinnati Financial by 10.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after acquiring an additional 107,081 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in Cincinnati Financial by 126.4% during the second quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock worth $21,259,000 after acquiring an additional 100,487 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $157.40 on Monday. The stock’s fifty day moving average price is $141.26 and its two-hundred day moving average price is $129.58. The firm has a market cap of $24.60 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 2.99 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Co. has a one year low of $99.92 and a one year high of $157.40.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the company posted $1.66 EPS. As a group, research analysts expect that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.06%. Cincinnati Financial’s payout ratio is 16.65%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Piper Sandler upped their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.57.

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.