Glenview Trust Co purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,059 shares of the insurance provider’s stock, valued at approximately $1,122,000.
A number of other institutional investors and hedge funds have also modified their holdings of CINF. Keating Financial Advisory Services Inc. bought a new position in Cincinnati Financial in the second quarter worth $27,000. Motiv8 Investments LLC bought a new stake in Cincinnati Financial in the 4th quarter valued at $29,000. Covestor Ltd raised its stake in shares of Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after buying an additional 83 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at $34,000. Finally, DV Equities LLC bought a new position in shares of Cincinnati Financial during the 4th quarter worth about $36,000. 65.24% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on CINF shares. Roth Capital lifted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Keefe, Bruyette & Woods cut their price target on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings downgraded Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Finally, Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.40.
Cincinnati Financial Stock Performance
Cincinnati Financial stock opened at $171.97 on Friday. The stock has a 50-day simple moving average of $178.09 and a 200 day simple moving average of $168.68. The stock has a market capitalization of $26.39 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 3.61 and a beta of 0.54. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 12-month low of $150.00 and a 12-month high of $194.81.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the company earned $1.97 EPS. On average, research analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.
Cincinnati Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is 17.74%.
Insider Buying and Selling at Cincinnati Financial
In related news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the acquisition, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.94% 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.
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