Allworth Financial LP cut its position in shares of Cincinnati Financial Co. (NASDAQ:CINF – Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,211 shares of the insurance provider’s stock after selling 181 shares during the quarter. Allworth Financial LP’s holdings in Cincinnati Financial were worth $507,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CINF. Norges Bank acquired a new position in Cincinnati Financial during the fourth quarter worth $149,585,000. Charles Schwab Investment Management Inc. raised its holdings in Cincinnati Financial by 16.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,334,877 shares of the insurance provider’s stock worth $341,458,000 after purchasing an additional 461,858 shares during the last quarter. Select Equity Group L.P. raised its holdings in Cincinnati Financial by 294.9% during the fourth quarter. Select Equity Group L.P. now owns 589,409 shares of the insurance provider’s stock worth $60,350,000 after purchasing an additional 440,158 shares during the last quarter. State Street Corp raised its holdings in Cincinnati Financial by 4.1% during the first quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock worth $1,246,056,000 after purchasing an additional 360,552 shares during the last quarter. Finally, Brookfield Corp ON acquired a new position in shares of Cincinnati Financial in the first quarter worth $33,140,000. 64.81% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Piper Sandler boosted their price target on Cincinnati Financial from $113.00 to $117.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. StockNews.com assumed coverage on Cincinnati Financial in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods raised Cincinnati Financial from a “market perform” rating to an “outperform” rating in a report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $117.50.
Insiders Place Their Bets
In other Cincinnati Financial news, Director Nancy Cunningham Benacci bought 1,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were acquired at an average price of $106.57 per share, with a total value of $106,570.00. Following the purchase, the director now owns 3,702 shares in the company, valued at approximately $394,522.14. The purchase was disclosed in a document filed with the SEC, which is available through this link. 2.84% of the stock is owned by insiders.
Cincinnati Financial Stock Performance
Cincinnati Financial stock opened at $102.29 on Monday. The firm has a market capitalization of $16.05 billion, a P/E ratio of 11.95, a PEG ratio of 1.16 and a beta of 0.61. The stock has a fifty day moving average price of $106.11 and a 200 day moving average price of $104.34. Cincinnati Financial Co. has a 52 week low of $89.36 and a 52 week high of $130.66. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.08.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last released its earnings results on Thursday, July 27th. The insurance provider reported $1.21 EPS for the quarter, beating the consensus estimate of $0.72 by $0.49. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.19 billion. Cincinnati Financial had a return on equity of 6.21% and a net margin of 14.45%. Equities research analysts anticipate that Cincinnati Financial Co. will post 5 earnings per share for the current year.
Cincinnati Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 18th will be issued a $0.75 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.00 annualized dividend and a yield of 2.93%. Cincinnati Financial’s payout ratio is 35.05%.
Cincinnati Financial Company Profile
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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