12,508 Cincinnati Financial Corporation $CINF Shares Acquired by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management increased its Cincinnati Financial stake by 616.5% in the third quarter, buying 12,508 additional shares and bringing its holdings to 14,537 shares worth approximately $2.32 million.
• Institutional ownership remains substantial at 65.24%, with major investors including State Street, Envestnet, Bank of America, GQG Partners and Legal & General recently increasing or initiating positions.
• Analysts maintain a generally positive but cautious outlook, with a consensus “Moderate Buy” rating and an average price target of $191.60 versus the reported share price of $166.77; Cincinnati Financial also announced a quarterly dividend of $0.94 per share.

WealthPlan Investment Management LLC raised its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 616.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,537 shares of the insurance provider's stock after buying an additional 12,508 shares during the period. WealthPlan Investment Management LLC's holdings in Cincinnati Financial were worth $2,317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Cincinnati Financial by 225.5% during the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider's stock worth $4,993,976,000 after buying an additional 18,686,673 shares during the period. Envestnet Asset Management Inc. raised its holdings in Cincinnati Financial by 1,474.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider's stock valued at $415,267,000 after acquiring an additional 2,100,563 shares during the period. Bank of America Corp DE acquired a new stake in Cincinnati Financial during the second quarter worth approximately $347,891,000. GQG Partners LLC acquired a new stake in Cincinnati Financial during the second quarter worth approximately $216,679,000. Finally, Legal & General Group Plc bought a new stake in shares of Cincinnati Financial during the second quarter worth approximately $200,331,000. 65.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CINF shares. Bank of America lowered Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Piper Sandler lifted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods reduced their target price on shares of Cincinnati Financial from $190.00 to $171.00 and set a "market perform" rating for the company in a research report on Monday. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial has a consensus rating of "Moderate Buy" and an average price target of $191.60.

Insiders Place Their Bets

In related news, Director Dirk Debbink bought 1,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares in the company, valued at $10,651,806.76. This represents a 1.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.94% of the stock is owned by corporate insiders.

Cincinnati Financial Price Performance

CINF stock traded up $0.10 during midday trading on Thursday, reaching $166.77. The company had a trading volume of 220,650 shares, compared to its average volume of 730,174. The company has a market capitalization of $25.60 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 2.79 and a beta of 0.52. The stock has a 50 day moving average price of $168.56 and a 200-day moving average price of $169.49. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its 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 firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the business earned $1.97 earnings per share. Equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be paid a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.3%. Cincinnati Financial's dividend payout ratio is presently 17.74%.

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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