Kinloch Capital LLC Makes New $4.74 Million Investment in Cincinnati Financial Corporation $CINF

Kinloch Capital LLC purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 25,597 shares of the insurance provider’s stock, valued at approximately $4,739,000. Cincinnati Financial accounts for 1.7% of Kinloch Capital LLC’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Cincinnati Financial in the fourth quarter worth $270,892,000. GQG Partners LLC bought a new stake in Cincinnati Financial during the second quarter valued at $216,679,000. Legal & General Group Plc purchased a new position in Cincinnati Financial during the second quarter worth about $200,331,000. First Trust Advisors LP grew its position in Cincinnati Financial by 59.4% during the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after buying an additional 784,584 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Cincinnati Financial by 193.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock worth $98,161,000 after acquiring an additional 396,086 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CINF shares. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their price objective on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday. Piper Sandler lifted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $195.40.

Cincinnati Financial Stock Up 1.7%

CINF opened at $171.21 on Tuesday. The business’s fifty day simple moving average is $178.00 and its 200 day simple moving average is $168.63. Cincinnati Financial Corporation has a 52 week low of $150.00 and a 52 week high of $194.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The stock has a market cap of $26.28 billion, a PE ratio of 8.08, a P/E/G ratio of 3.52 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the firm earned $1.97 EPS. As a group, research analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

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.