Quest Partners LLC Takes $424,000 Position in Cincinnati Financial Co. (NASDAQ:CINF)

Quest Partners LLC purchased a new stake in Cincinnati Financial Co. (NASDAQ:CINF) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,098 shares of the insurance provider’s stock, valued at approximately $424,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CINF. Trexquant Investment LP grew its holdings in shares of Cincinnati Financial by 5.5% in the fourth quarter. Trexquant Investment LP now owns 32,717 shares of the insurance provider’s stock valued at $3,385,000 after purchasing an additional 1,711 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Cincinnati Financial by 12.8% during the 4th quarter. Corient Private Wealth LLC now owns 31,327 shares of the insurance provider’s stock worth $3,241,000 after buying an additional 3,547 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Cincinnati Financial by 27.3% in the 4th quarter. D.A. Davidson & CO. now owns 6,541 shares of the insurance provider’s stock valued at $677,000 after purchasing an additional 1,402 shares during the period. Wells Fargo & Company MN increased its stake in Cincinnati Financial by 0.7% in the 4th quarter. Wells Fargo & Company MN now owns 163,196 shares of the insurance provider’s stock valued at $16,884,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Cincinnati Financial by 35.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,772 shares of the insurance provider’s stock valued at $287,000 after purchasing an additional 718 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Piper Sandler restated a “neutral” rating and issued a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Citigroup increased their target price on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $126.00.

Cincinnati Financial Stock Performance

NASDAQ:CINF traded up $0.57 during midday trading on Friday, hitting $117.68. The company’s stock had a trading volume of 529,860 shares, compared to its average volume of 663,075. The firm has a market cap of $18.42 billion, a P/E ratio of 7.83, a P/E/G ratio of 2.50 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The firm’s 50 day moving average is $118.80 and its 200-day moving average is $111.43. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.13 billion. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. Cincinnati Financial’s revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. Equities analysts anticipate that Cincinnati Financial Co. will post 6.37 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

Insider Activity

In other news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction dated Monday, April 29th. The stock was acquired at an average cost of $113.47 per share, for a total transaction of $113,470.00. Following the acquisition, the director now directly owns 53,988 shares in the company, valued at $6,126,018.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.83% of the company’s stock.

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.