SYM FINANCIAL Corp Acquires New Shares in Cincinnati Financial Co. (NASDAQ:CINF)

SYM FINANCIAL Corp bought a new position in Cincinnati Financial Co. (NASDAQ:CINF) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,319 shares of the insurance provider’s stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CINF. Norges Bank bought a new position in Cincinnati Financial during the fourth quarter valued at approximately $179,305,000. Balyasny Asset Management L.P. increased its stake in shares of Cincinnati Financial by 36.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 679,861 shares of the insurance provider’s stock worth $70,338,000 after purchasing an additional 180,355 shares during the last quarter. Natixis bought a new position in shares of Cincinnati Financial during the 1st quarter valued at $22,053,000. Bank of Nova Scotia lifted its stake in shares of Cincinnati Financial by 375.8% in the 4th quarter. Bank of Nova Scotia now owns 164,455 shares of the insurance provider’s stock valued at $17,014,000 after purchasing an additional 129,889 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its holdings in Cincinnati Financial by 10.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after purchasing an additional 107,081 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $135.12 on Friday. The business has a 50 day moving average price of $128.58 and a 200 day moving average price of $121.25. Cincinnati Financial Co. has a twelve month low of $96.86 and a twelve month high of $139.34. The company has a market cap of $21.11 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 2.60 and a beta of 0.66. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the company earned $1.21 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts predict that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.40%. Cincinnati Financial’s payout ratio is 21.56%.

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.