Envestnet Asset Management Inc. Has $22.08 Million Holdings in Cincinnati Financial Corporation (NASDAQ:CINF)

Envestnet Asset Management Inc. grew its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 10.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,452 shares of the insurance provider’s stock after purchasing an additional 14,440 shares during the period. Envestnet Asset Management Inc.’s holdings in Cincinnati Financial were worth $22,077,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management increased its stake in shares of Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock valued at $26,000 after buying an additional 76 shares during the period. Alpine Bank Wealth Management acquired a new stake in Cincinnati Financial during the 1st quarter valued at approximately $30,000. GoalVest Advisory LLC increased its position in Cincinnati Financial by 65.4% during the 1st quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 102 shares during the period. Whipplewood Advisors LLC increased its position in Cincinnati Financial by 333.3% during the 1st quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 200 shares during the period. Finally, Capital Advisors Ltd. LLC increased its position in Cincinnati Financial by 5,000.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 250 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CINF shares. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $150.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Wall Street Zen raised shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $155.25.

Cincinnati Financial Trading Down 2.3%

Shares of NASDAQ CINF opened at $145.80 on Wednesday. The business has a fifty day moving average price of $147.75 and a 200 day moving average price of $142.22. Cincinnati Financial Corporation has a 1-year low of $115.43 and a 1-year high of $161.75. The stock has a market capitalization of $22.79 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 9.91 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.37. Cincinnati Financial had a return on equity of 6.55% and a net margin of 13.19%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Equities research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 37.95%.

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.