11,480 Shares of Cincinnati Financial Corporation $CINF Purchased by Delta Capital Management LLC

Key Points

• Delta Capital Management initiated a position in Cincinnati Financial by purchasing 11,480 shares valued at approximately $1.83 million. Institutional investors and hedge funds collectively own 65.24% of the company.
• Cincinnati Financial shares opened at $171.25, with the stock recently trading up 2.4%; analysts have a “Moderate Buy” consensus rating and an average price target of $191.60.
• The company reported quarterly earnings of $1.43 per share, below the $1.82 consensus estimate, while maintaining a quarterly dividend of $0.94 per share, equivalent to a 2.2% yield.

Delta Capital Management LLC bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,480 shares of the insurance provider's stock, valued at approximately $1,830,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Keating Financial Advisory Services Inc. purchased a new stake in Cincinnati Financial in the 2nd quarter worth approximately $27,000. Covestor Ltd grew its stake in shares of Cincinnati Financial by 98.8% during the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock worth $31,000 after purchasing an additional 83 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of Cincinnati Financial during the 1st quarter valued at approximately $34,000. Elevation Wealth Partners LLC increased its holdings in shares of Cincinnati Financial by 230.8% during the 3rd 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 in the last quarter. Finally, Davis Capital Management increased its holdings in shares of Cincinnati Financial by 7,433.3% during the 3rd 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. 65.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk Debbink bought 1,000 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the transaction, the director directly owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.94% of the stock is currently owned by insiders.

Cincinnati Financial Stock Up 2.4%

Shares of CINF opened at $171.25 on Friday. The firm has a market cap of $26.28 billion, a P/E ratio of 8.08, a PEG ratio of 2.89 and a beta of 0.52. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. The stock's 50 day moving average is $168.21 and its two-hundred day moving average is $169.60. 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 (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%. During the same period in the previous year, the company earned $1.97 earnings per share. Analysts predict that Cincinnati Financial Corporation will post 8.44 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio (DPR) is presently 17.74%.

Analysts Set New Price Targets

Several research firms recently issued reports on CINF. Weiss Ratings cut shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods dropped their price target on shares of 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. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Finally, Roth Capital upped their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Cincinnati Financial has an average rating of "Moderate Buy" and an average price target of $191.60.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Through its subsidiaries, the company markets property and casualty insurance products primarily through a network of independent insurance agents.

Its offerings include commercial and personal property and casualty coverage, such as businessowners' policies, commercial auto, workers' compensation, homeowners and automobile insurance. The company also provides life insurance and related financial products through Cincinnati Life Insurance Company.

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