Narwhal Capital Management Raises Holdings in Cincinnati Financial Corporation $CINF

Narwhal Capital Management boosted its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 62.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,966 shares of the insurance provider’s stock after purchasing an additional 17,276 shares during the quarter. Narwhal Capital Management’s holdings in Cincinnati Financial were worth $7,109,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. acquired a new stake in shares of Cincinnati Financial in the second quarter valued at about $25,000. AlphaQuest LLC boosted its position in Cincinnati Financial by 714.3% during the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Carderock Capital Management Inc. purchased a new stake in Cincinnati Financial during the 2nd quarter valued at about $45,000. SJS Investment Consulting Inc. raised its holdings in Cincinnati Financial by 2,538.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 343 shares of the insurance provider’s stock valued at $54,000 after acquiring an additional 330 shares during the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new stake in Cincinnati Financial in the 2nd quarter valued at about $60,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday. Piper Sandler upped their target price on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Finally, Roth Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.75.

Cincinnati Financial Price Performance

CINF stock opened at $162.99 on Friday. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $169.86. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. The stock has a market cap of $25.43 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 3.72 and a beta of 0.66. The business has a fifty day moving average of $164.27 and a two-hundred day moving average of $156.86.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The company’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 EPS. As a group, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, December 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is 25.89%.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was acquired at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the completion of the transaction, the director directly owned 58,482 shares in the company, valued at approximately $9,005,058.36. The trade was a 1.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.83% of the stock is currently owned by corporate insiders.

Cincinnati Financial Company 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.