Empowered Funds LLC acquired a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 34,850 shares of the insurance provider's stock, valued at approximately $6,452,000.
Several other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Cincinnati Financial by 0.3% during the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider's stock worth $1,357,825,000 after acquiring an additional 26,475 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cincinnati Financial by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider's stock worth $1,083,151,000 after purchasing an additional 97,761 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cincinnati Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider's stock valued at $671,265,000 after buying an additional 25,888 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider's stock valued at $331,136,000 after buying an additional 784,584 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Cincinnati Financial by 4.2% in the second quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider's stock valued at $299,553,000 after buying an additional 80,487 shares in the last quarter. Institutional investors own 65.24% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on CINF. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Roth Capital lifted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Weiss Ratings lowered Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a report on Friday, August 21st. Piper Sandler increased their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods cut their price target on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $195.40.
View Our Latest Report on Cincinnati Financial
Cincinnati Financial Price Performance
NASDAQ CINF opened at $171.97 on Monday. The business has a fifty day moving average price of $178.09 and a two-hundred day moving average price of $168.68. The stock has a market capitalization of $26.39 billion, a PE ratio of 8.11, a PEG ratio of 3.60 and a beta of 0.55. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week 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 issued 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). 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 firm posted $1.97 EPS. Equities analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.
Cincinnati Financial Announces Dividend
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 given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio is currently 17.74%.
Insider Buying and Selling
In related news, Director Dirk J. Debbink acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, with a total value of $171,640.00. Following the purchase, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.94% of the stock is currently owned by insiders.
About Cincinnati Financial
(
Free Report)
Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.
The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.
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