Stratos Wealth Partners LTD. increased its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF – Free Report) by 19.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,460 shares of the insurance provider’s stock after acquiring an additional 393 shares during the period. Stratos Wealth Partners LTD.’s holdings in Cincinnati Financial were worth $239,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Cincinnati Financial during the fourth quarter worth $149,585,000. Charles Schwab Investment Management Inc. lifted its holdings in 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 buying an additional 461,858 shares in the last quarter. Select Equity Group L.P. boosted its position in Cincinnati Financial by 294.9% in the 4th quarter. Select Equity Group L.P. now owns 589,409 shares of the insurance provider’s stock valued at $60,350,000 after buying an additional 440,158 shares during the period. State Street Corp grew its stake in Cincinnati Financial by 4.1% in the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock worth $1,246,056,000 after acquiring an additional 360,552 shares in the last quarter. Finally, Brookfield Corp ON purchased a new position in shares of Cincinnati Financial during the first quarter worth approximately $33,140,000. Hedge funds and other institutional investors own 64.81% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on CINF. Piper Sandler boosted their price target on Cincinnati Financial from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Monday, July 31st. StockNews.com initiated coverage on Cincinnati Financial in a research note on Thursday. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating in a research note on Monday, July 10th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.50.
Insider Transactions at Cincinnati Financial
In other Cincinnati Financial news, Director Nancy Cunningham Benacci bought 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average cost of $106.57 per share, with a total value of $106,570.00. Following the transaction, the director now directly owns 3,702 shares of the company’s stock, valued at approximately $394,522.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.95% of the company’s stock.
Cincinnati Financial Price Performance
Shares of CINF stock opened at $101.34 on Friday. The stock’s 50-day moving average is $105.94 and its 200 day moving average is $104.18. Cincinnati Financial Co. has a 1-year low of $93.64 and a 1-year high of $130.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $15.90 billion, a P/E ratio of 11.84, a PEG ratio of 1.13 and a beta of 0.61.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.49. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Cincinnati Financial had a net margin of 14.45% and a return on equity of 6.21%. Research analysts predict that Cincinnati Financial Co. will post 5 earnings per share for the current fiscal year.
Cincinnati Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.00 annualized dividend and a dividend yield of 2.96%. Cincinnati Financial’s dividend payout ratio is presently 35.05%.
Cincinnati Financial 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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