Spire Wealth Management raised its stake in Cincinnati Financial Co. (NASDAQ:CINF – Free Report) by 293.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,070 shares of the insurance provider’s stock after buying an additional 798 shares during the period. Spire Wealth Management’s holdings in Cincinnati Financial were worth $120,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CINF. Vanguard Group Inc. grew its holdings in shares of Cincinnati Financial by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider’s stock valued at $2,453,379,000 after purchasing an additional 211,402 shares during the last quarter. State Street Corp grew its holdings in shares of Cincinnati Financial by 4.1% during the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock valued at $1,246,056,000 after purchasing an additional 360,552 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cincinnati Financial by 16.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,334,877 shares of the insurance provider’s stock valued at $341,458,000 after purchasing an additional 461,858 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cincinnati Financial by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 3,276,159 shares of the insurance provider’s stock valued at $334,863,000 after purchasing an additional 32,628 shares during the last quarter. Finally, Norges Bank bought a new stake in Cincinnati Financial in the 4th quarter worth $149,585,000. Institutional investors own 65.51% of the company’s stock.
Insider Buying and Selling
In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were acquired at an average price of $98.39 per share, with a total value of $98,390.00. Following the completion of the purchase, the director now directly owns 47,960 shares of the company’s stock, valued at approximately $4,718,784.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.84% of the stock is currently owned by insiders.
Cincinnati Financial Price Performance
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The insurance provider reported $1.21 EPS for the quarter, topping the consensus estimate of $0.72 by $0.49. Cincinnati Financial had a net margin of 14.45% and a return on equity of 6.21%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.19 billion. On average, sell-side analysts expect that Cincinnati Financial Co. will post 5 earnings per share for the current year.
Wall Street Analysts Forecast Growth
CINF has been the topic of a number of recent analyst reports. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b-” rating in a report on Monday, May 22nd. Piper Sandler raised their price target on shares of Cincinnati Financial from $113.00 to $117.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. StockNews.com initiated coverage on shares of Cincinnati Financial in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Bank of America raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $113.00 to $117.00 in a report on Thursday, May 18th. Finally, Royal Bank of Canada cut their price target on shares of Cincinnati Financial from $125.00 to $118.00 in a report on Monday, May 1st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $117.50.
Check Out Our Latest Research Report on CINF
About Cincinnati Financial
Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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