QRG Capital Management Inc. Increases Holdings in Cincinnati Financial Corporation $CINF

QRG Capital Management Inc. raised its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 26.7% in the 1st quarter, HoldingsChannel reports. The fund owned 15,221 shares of the insurance provider’s stock after buying an additional 3,208 shares during the quarter. QRG Capital Management Inc.’s holdings in Cincinnati Financial were worth $2,395,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CINF. Lodestone Wealth Management LLC acquired a new position in Cincinnati Financial in the fourth quarter valued at approximately $25,000. Motiv8 Investments LLC purchased a new position in shares of Cincinnati Financial in the 4th quarter valued at $29,000. DV Equities LLC purchased a new position in shares of Cincinnati Financial in the 4th quarter valued at $36,000. Legacy Wealth Managment LLC ID raised its stake in Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 108 shares in the last quarter. Finally, SHP Wealth Management purchased a new stake in Cincinnati Financial in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF traded up $4.90 during midday trading on Tuesday, reaching $194.49. 58,053 shares of the company were exchanged, compared to its average volume of 758,676. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 1 year low of $143.87 and a 1 year high of $194.81. The stock has a fifty day simple moving average of $168.93 and a 200 day simple moving average of $165.13. The stock has a market cap of $30.09 billion, a P/E ratio of 11.11, a PEG ratio of 4.15 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the business earned ($0.24) EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, research analysts forecast that Cincinnati Financial Corporation will post 8.66 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be issued a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 1.9%. Cincinnati Financial’s payout ratio is presently 21.50%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Bank of America dropped their price objective on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Roth Capital lifted their price target on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Piper Sandler boosted their price objective on Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $183.25.

Cincinnati Financial Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.