IFP Advisors Inc Acquires 12,819 Shares of Cincinnati Financial Corporation $CINF

IFP Advisors Inc lifted its holdings in Cincinnati Financial Corporation (NASDAQ:CINFFree Report) by 381.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,176 shares of the insurance provider’s stock after buying an additional 12,819 shares during the period. IFP Advisors Inc’s holdings in Cincinnati Financial were worth $2,995,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CINF. Keating Financial Advisory Services Inc. purchased a new position in Cincinnati Financial in the 2nd quarter valued at approximately $27,000. Covestor Ltd boosted its position in Cincinnati Financial by 98.8% during 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 during the period. Motiv8 Investments LLC bought a new stake in Cincinnati Financial in the fourth quarter valued at $29,000. Cassaday & Co Wealth Management LLC bought a new position in Cincinnati Financial in the first quarter worth $34,000. Finally, DV Equities LLC purchased a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $36,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk Debbink acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were acquired 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 owned 62,059 shares of the company’s stock, valued at $10,651,806.76. The trade was a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Roth Capital raised their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $197.00 to $193.00 in a report on Thursday, July 30th. Piper Sandler upped their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their target price on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 5th. Finally, Atlantic Securities set a $197.00 target price on Cincinnati Financial in a report on Wednesday, July 15th. One 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 stock currently has an average rating of “Moderate Buy” and an average price target of $195.40.

Check Out Our Latest Report on CINF

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $169.80 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 has a market cap of $26.06 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 3.55 and a beta of 0.53. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81. The stock has a 50 day moving average price of $175.60 and a 200-day moving average price of $169.14.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last released its quarterly earnings data 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 net margin of 23.84% and a return on equity of 9.63%. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the business posted $1.97 earnings per share. Equities analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be given 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 dividend payout ratio is presently 17.74%.

Cincinnati Financial Profile

(Free Report)

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers’ compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.

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

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