Delta Capital Management LLC acquired a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) in the 3rd quarter, HoldingsChannel reports. The firm acquired 11,480 shares of the insurance provider’s stock, valued at approximately $1,830,000.
A number of other hedge funds have also made changes to their positions in CINF. Keating Financial Advisory Services Inc. purchased a new position in shares of Cincinnati Financial in the second quarter valued at approximately $27,000. Covestor Ltd boosted its stake in shares of Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Cincinnati Financial during the first quarter worth approximately $34,000. Elevation Wealth Partners LLC increased its position in shares of Cincinnati Financial by 230.8% during the third quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Finally, GK Wealth Management LLC acquired a new position in Cincinnati Financial in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 65.24% of the company’s stock.
Insider Activity
In other news, Director Dirk Debbink acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the transaction, the director owned 62,059 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.94% of the company’s stock.
Cincinnati Financial Stock Performance
NASDAQ CINF opened at $171.25 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s fifty day moving average is $168.21 and its two-hundred day moving average is $169.60. The firm has a market capitalization of $26.28 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 2.89 and a beta of 0.52. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last issued its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (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 during the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the business earned $1.97 earnings per share. On average, research analysts anticipate that Cincinnati Financial Corporation will post 8.44 earnings per share for the current year.
Cincinnati Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were issued a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio is currently 17.74%.
Analysts Set New Price Targets
Several research firms recently commented on CINF. Keefe, Bruyette & Woods reduced their price objective 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. Weiss Ratings cut shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Piper Sandler increased their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.
Check Out Our Latest Report on Cincinnati Financial
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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