SeaCrest Wealth Management LLC Takes $202,000 Position in Cincinnati Financial Co. (NASDAQ:CINF)

SeaCrest Wealth Management LLC purchased a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,711 shares of the insurance provider’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CINF. Assetmark Inc. increased its stake in shares of Cincinnati Financial by 252.2% in the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 174 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Cincinnati Financial during the 4th quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $31,000. Future Financial Wealth Managment LLC bought a new stake in Cincinnati Financial in the 1st quarter valued at about $47,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in Cincinnati Financial by 95.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 47,999 shares of the insurance provider’s stock worth $53,000 after buying an additional 23,477 shares during the period. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 0.3 %

Shares of NASDAQ CINF traded down $0.36 during midday trading on Tuesday, hitting $130.96. The company’s stock had a trading volume of 81,806 shares, compared to its average volume of 769,662. The firm has a market cap of $20.50 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 2.84 and a beta of 0.65. The business’s 50 day moving average is $121.58 and its two-hundred day moving average is $118.34. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 12-month low of $96.86 and a 12-month high of $132.69.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the firm posted $1.21 EPS. The business’s revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that Cincinnati Financial Co. will post 6.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Bank of America decreased their price target on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, Roth Mkm lifted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Company 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.