Summit Global Investments Has $9.75 Million Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Summit Global Investments increased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,196 shares of the insurance provider’s stock after purchasing an additional 4,867 shares during the quarter. Summit Global Investments owned about 0.06% of Cincinnati Financial worth $9,746,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. London Co. of Virginia boosted its stake in Cincinnati Financial by 7.8% in the third quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock valued at $283,658,000 after acquiring an additional 200,414 shares during the last quarter. Northern Trust Corp boosted its stake in Cincinnati Financial by 2.0% in the third quarter. Northern Trust Corp now owns 1,732,270 shares of the insurance provider’s stock valued at $177,194,000 after acquiring an additional 33,942 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in Cincinnati Financial by 2.6% in the third quarter. Johnson Investment Counsel Inc. now owns 1,353,199 shares of the insurance provider’s stock valued at $138,419,000 after acquiring an additional 34,880 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Cincinnati Financial by 16.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,295,928 shares of the insurance provider’s stock valued at $134,077,000 after acquiring an additional 186,629 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Cincinnati Financial by 2.9% in the third quarter. Invesco Ltd. now owns 1,287,675 shares of the insurance provider’s stock valued at $131,716,000 after acquiring an additional 36,759 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on CINF shares. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Citigroup lifted their price target 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. Piper Sandler reissued a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Finally, BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $124.50.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was purchased at an average price of $113.47 per share, with a total value of $113,470.00. Following the acquisition, the director now directly owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.83% of the stock is currently owned by insiders.

Cincinnati Financial Stock Down 0.8 %

Shares of NASDAQ:CINF traded down $0.93 during midday trading on Thursday, reaching $116.37. 577,337 shares of the company were exchanged, compared to its average volume of 884,767. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. The stock has a fifty day simple moving average of $117.96 and a two-hundred day simple moving average of $109.42. The firm has a market cap of $18.22 billion, a PE ratio of 7.72, a P/E/G ratio of 2.47 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data 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 for 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 for the quarter was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. As a group, sell-side analysts forecast that Cincinnati Financial Co. will post 6.36 earnings per share for the current year.

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.