365 WMG Private Fund I Primus Fund LLC bought a new stake in Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 5,059 shares of the insurance provider’s stock, valued at approximately $806,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CINF. Keating Financial Advisory Services Inc. bought a new stake in Cincinnati Financial during the 2nd quarter worth about $27,000. Covestor Ltd grew its stake in shares of Cincinnati Financial by 98.8% during the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Cincinnati Financial during the first quarter valued at approximately $34,000. Elevation Wealth Partners LLC grew its stake 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 valued at $34,000 after purchasing an additional 150 shares during the last quarter. Finally, Davis Capital Management increased its holdings in shares of Cincinnati Financial by 7,433.3% in the third quarter. Davis Capital Management now owns 226 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on CINF shares. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. Keefe, Bruyette & Woods lowered 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. Finally, Piper Sandler boosted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock 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 issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.60.
Get Our Latest Analysis on Cincinnati Financial
Insider Transactions at Cincinnati Financial
In other Cincinnati Financial news, Director Dirk Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, August 25th. The shares were purchased at an average cost of $171.64 per share, with a total value of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares in the company, 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 document filed with the SEC, which is available at this hyperlink. Insiders own 2.94% of the company’s stock.
Cincinnati Financial Stock Performance
Cincinnati Financial stock opened at $172.07 on Wednesday. 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 1 year low of $150.00 and a 1 year high of $194.81. The company has a market cap of $26.41 billion, a PE ratio of 17.42, a PEG ratio of 2.86 and a beta of 0.52. The company’s 50-day moving average is $168.11 and its two-hundred day moving average is $169.88.
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 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 business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the business posted $1.97 EPS. Equities analysts anticipate that Cincinnati Financial Corporation will post 8.44 earnings per share for the current year.
Cincinnati Financial Dividend Announcement
The firm 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. 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 is currently 17.74%.
Cincinnati Financial Profile
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.
The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.
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