Vest Financial LLC boosted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 19.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 761,534 shares of the insurance provider’s stock after purchasing an additional 124,237 shares during the period. Cincinnati Financial makes up 1.3% of Vest Financial LLC’s portfolio, making the stock its 8th biggest position. Vest Financial LLC owned 0.50% of Cincinnati Financial worth $121,366,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC increased its position in shares of Cincinnati Financial by 4.3% during the third quarter. Axxcess Wealth Management LLC now owns 3,684 shares of the insurance provider’s stock worth $587,000 after acquiring an additional 151 shares during the last quarter. 365 WMG Private Fund I Primus Fund LLC acquired a new position in shares of Cincinnati Financial in the third quarter worth about $806,000. Integrated Advisors Network LLC lifted its stake in shares of Cincinnati Financial by 19.2% in the third quarter. Integrated Advisors Network LLC now owns 1,823 shares of the insurance provider’s stock worth $291,000 after acquiring an additional 293 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Cincinnati Financial by 0.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 30,094 shares of the insurance provider’s stock valued at $4,796,000 after purchasing an additional 268 shares during the last quarter. Finally, Novem Group raised its stake in Cincinnati Financial by 2.0% during the third quarter. Novem Group now owns 6,872 shares of the insurance provider’s stock valued at $1,095,000 after buying an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.
Cincinnati Financial Trading Up 0.9%
Cincinnati Financial stock opened at $173.63 on Thursday. The firm’s 50-day moving average is $168.14 and its 200-day moving average is $169.99. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. 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 $26.65 billion, a P/E ratio of 8.19, a PEG ratio of 2.90 and a beta of 0.52.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its quarterly 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 business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the firm posted $1.97 earnings per share. On average, equities analysts expect that Cincinnati Financial Corporation will post 8.44 earnings per share for the current year.
Cincinnati Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial’s payout ratio is presently 17.74%.
Analyst Upgrades and Downgrades
CINF has been the topic of a number of research analyst reports. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Roth Capital boosted their price target on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a report on Wednesday, July 15th. Piper Sandler upped their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods dropped their price target on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating on the stock in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.60.
Get Our Latest Analysis on CINF
Insider Buying and Selling
In related news, Director Dirk Debbink bought 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was bought at an average cost of $171.64 per share, with a total value of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares of the company’s stock, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.94% of the stock is currently owned by insiders.
About Cincinnati Financial
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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