Cincinnati Financial Corporation (NASDAQ:CINF – Get Free Report) Director Dirk Debbink purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Cincinnati Financial Stock Performance
NASDAQ CINF traded up $0.14 during trading hours on Thursday, hitting $172.52. 495,303 shares of the stock were exchanged, compared to its average volume of 755,887. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The company has a market cap of $26.48 billion, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 3.59 and a beta of 0.54. Cincinnati Financial Corporation has a 12-month low of $150.00 and a 12-month high of $194.81. The stock has a 50-day moving average of $178.01 and a 200 day moving average of $168.65.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period in the prior year, the firm posted $1.97 EPS. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.
Cincinnati Financial Dividend Announcement
Analyst Upgrades and Downgrades
A number of research firms have commented on CINF. Keefe, Bruyette & Woods reduced their target price on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a report on Wednesday, August 5th. Weiss Ratings cut shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, August 21st. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a report on Wednesday, July 15th. Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Finally, Piper Sandler boosted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $195.40.
Check Out Our Latest Stock Analysis on Cincinnati Financial
Hedge Funds Weigh In On Cincinnati Financial
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bison Wealth LLC acquired a new position in shares of Cincinnati Financial during the 4th quarter worth $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock valued at $2,823,000 after acquiring an additional 525 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after acquiring an additional 173,343 shares in the last quarter. Federated Hermes Inc. purchased a new position in Cincinnati Financial during the 2nd quarter valued at about $101,000. Finally, Cerity Partners LLC lifted its holdings in shares of Cincinnati Financial by 10.8% in the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock valued at $7,115,000 after purchasing an additional 4,674 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.
About Cincinnati Financial
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.
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