59,811 Shares in Cincinnati Financial Corporation $CINF Bought by Beacon Pointe Advisors LLC

Key Points

• Beacon Pointe Advisors purchased 59,811 Cincinnati Financial shares worth approximately $11.1 million, while institutional investors collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, missing the $1.82 analyst consensus, despite revenue of $4.27 billion versus the $2.71 billion estimate.
• The company declared a quarterly dividend of $0.94, representing a $3.76 annualized payout and a 2.2% yield; analysts maintain a consensus “Moderate Buy” rating with a $195.40 price target.

Beacon Pointe Advisors LLC purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 59,811 shares of the insurance provider's stock, valued at approximately $11,074,000.

A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake 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 purchasing an additional 25,888 shares during the period. GQG Partners LLC bought a new position in shares of Cincinnati Financial during the 2nd quarter worth approximately $216,679,000. Manning & Napier Advisors LLC bought a new position in shares of Cincinnati Financial during the 2nd quarter worth approximately $3,585,000. Eurizon Capital SGR S.p.A. acquired a new stake in Cincinnati Financial in the 4th quarter valued at $1,231,000. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Cincinnati Financial in the 1st quarter valued at $12,002,000. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Down 0.3%

Shares of CINF stock opened at $171.97 on Friday. Cincinnati Financial Corporation has a 12-month low of $150.00 and a 12-month high of $194.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average of $178.09 and a 200-day moving average of $168.68. The company has a market capitalization of $26.39 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 3.61 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same quarter last year, the company posted $1.97 EPS. As a group, equities research analysts predict that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.2%. Cincinnati Financial's payout ratio is presently 17.74%.

Insiders Place Their Bets

In other news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, August 25th. The stock was purchased at an average price of $171.64 per share, with a total value of $171,640.00. Following the transaction, the director directly owned 62,059 shares in the company, valued at $10,651,806.76. The trade was a 1.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 2.94% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a research note on Wednesday, August 5th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Piper Sandler increased their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Roth Capital lifted their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Finally, Weiss Ratings lowered shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research report on Friday, August 21st. 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, Cincinnati Financial has an average rating of "Moderate Buy" and a consensus target price of $195.40.

Cincinnati Financial Company Profile

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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