Hengehold Capital Management LLC lifted its position in Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 99.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,937 shares of the insurance provider’s stock after buying an additional 19,369 shares during the quarter. Hengehold Capital Management LLC’s holdings in Cincinnati Financial were worth $6,205,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BIP Wealth LLC grew its stake in Cincinnati Financial by 1.6% in the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock valued at $720,000 after buying an additional 63 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in Cincinnati Financial by 2.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider’s stock worth $577,000 after acquiring an additional 64 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Cincinnati Financial by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock worth $2,616,000 after acquiring an additional 68 shares during the last quarter. McAdam LLC lifted its position in Cincinnati Financial by 2.6% during the 2nd quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock worth $512,000 after acquiring an additional 70 shares during the last quarter. Finally, William B. Walkup & Associates Inc. boosted its holdings in Cincinnati Financial by 2.9% during the first quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider’s stock valued at $428,000 after acquiring an additional 82 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Dirk Debbink acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were bought at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the acquisition, the director owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.94% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on CINF shares. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research report on Wednesday, July 15th. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Piper Sandler boosted their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Roth Capital increased their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods decreased their target price on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 12th. One equities research 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 stock. According to data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average price target of $191.60.
View Our Latest Research Report on CINF
Cincinnati Financial Stock Performance
Shares of Cincinnati Financial stock traded up $4.03 during midday trading on Friday, hitting $171.25. The company had a trading volume of 856,668 shares, compared to its average volume of 691,837. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81. The business’s 50 day simple moving average is $168.21 and its two-hundred day simple moving average is $169.60. The stock has a market cap of $26.28 billion, a PE ratio of 8.08, a P/E/G ratio of 2.82 and a beta of 0.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last released its 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). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the company earned $1.97 earnings per share. As a group, equities analysts predict that Cincinnati Financial Corporation will post 8.44 EPS for the current fiscal year.
Cincinnati Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.
About Cincinnati Financial
Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Through its subsidiaries, the company markets property and casualty insurance products primarily through a network of independent insurance agents.
Its offerings include commercial and personal property and casualty coverage, such as businessowners’ policies, commercial auto, workers’ compensation, homeowners and automobile insurance. The company also provides life insurance and related financial products through Cincinnati Life Insurance Company.
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