Turtle Creek Wealth Advisors LLC Purchases New Holdings in Cincinnati Financial Corporation $CINF

Turtle Creek Wealth Advisors LLC purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,718 shares of the insurance provider’s stock, valued at approximately $593,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nykredit A S acquired a new stake in Cincinnati Financial during the second quarter worth about $29,340,000. Bank of America Corp DE purchased a new position in Cincinnati Financial during the second quarter valued at approximately $347,891,000. National Pension Service raised its position in Cincinnati Financial by 394.1% during the second quarter. National Pension Service now owns 1,280,676 shares of the insurance provider’s stock valued at $237,104,000 after acquiring an additional 1,021,465 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Cincinnati Financial by 1,474.8% in the second quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock valued at $415,267,000 after acquiring an additional 2,100,563 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in Cincinnati Financial in the second quarter valued at approximately $3,585,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Up 0.3%

Shares of CINF opened at $167.22 on Friday. The company has a current ratio of 0.31, a quick 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. The stock’s 50 day moving average is $168.33 and its two-hundred day moving average is $169.59. The firm has a market cap of $25.66 billion, a P/E ratio of 7.89, a PEG ratio of 2.81 and a beta of 0.52.

Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted 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). The business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter last year, the firm earned $1.97 earnings per share. Analysts predict that Cincinnati Financial Corporation will post 8.44 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were paid 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 yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CINF shares. Keefe, Bruyette & Woods lowered their price objective on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating on the stock in a research report on Monday. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research note on Wednesday, July 15th. 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 report on Tuesday, July 28th. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Finally, Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. One 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’s stock. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average target price of $191.60.

Read Our Latest Stock Report on Cincinnati Financial

Insider Transactions at Cincinnati Financial

In related news, Director Dirk Debbink purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were purchased at an average price of $171.64 per share, with a total value of $171,640.00. Following the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.94% of the company’s stock.

About Cincinnati Financial

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Corporation (NASDAQ:CINF – Free Report).

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

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