Rakuten Investment Management Inc. Invests $4.72 Million in Cincinnati Financial Corporation $CINF

Rakuten Investment Management Inc. purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINFFree Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,358 shares of the insurance provider’s stock, valued at approximately $4,721,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Keating Financial Advisory Services Inc. purchased a new position in Cincinnati Financial during the second quarter worth approximately $27,000. Motiv8 Investments LLC acquired a new position in Cincinnati Financial during the fourth quarter worth $29,000. Covestor Ltd grew its holdings in 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 purchased a new stake in Cincinnati Financial in the 1st quarter valued at $34,000. Finally, DV Equities LLC acquired a new stake in shares of Cincinnati Financial in the 4th quarter worth $36,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their price objective on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. Piper Sandler lifted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and a consensus target price of $195.40.

View Our Latest Research Report on Cincinnati Financial

Insider Buying and Selling

In related news, Director Dirk J. Debbink bought 1,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the transaction, the director directly owned 62,059 shares of the company’s stock, valued at $10,651,806.76. This represents a 1.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.94% of the stock is owned by insiders.

Cincinnati Financial Price Performance

CINF stock opened at $171.97 on Monday. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. 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 stock has a market cap of $26.39 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 3.60 and a beta of 0.54. The business has a fifty day moving average of $178.09 and a two-hundred day moving average of $168.68.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). The business had revenue of $4.27 billion during the quarter, compared to analyst estimates 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 last year, the company earned $1.97 EPS. As a group, research analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s payout ratio is 17.74%.

Cincinnati Financial Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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