Allworth Financial LP Purchases New Shares in Cincinnati Financial Corporation $CINF

Allworth Financial LP purchased a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,175 shares of the insurance provider's stock, valued at approximately $1,514,000.

Other institutional investors have also added to or reduced their stakes in the company. Motiv8 Investments LLC purchased a new position in Cincinnati Financial during the fourth quarter valued at $29,000. Covestor Ltd grew its stake in shares of Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock worth $31,000 after acquiring an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Cincinnati Financial in the first quarter worth $34,000. DV Equities LLC bought a new position in shares of Cincinnati Financial during the fourth quarter valued at $36,000. Finally, Legacy Wealth Managment LLC ID raised its position in shares of Cincinnati Financial by 78.8% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider's stock worth $40,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Up 0.1%

NASDAQ:CINF opened at $168.29 on Friday. The company's 50-day simple moving average is $177.96 and its 200-day simple moving average is $168.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The stock has a market capitalization of $25.83 billion, a P/E ratio of 7.94, a P/E/G ratio of 3.52 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 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 analysts' expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period in the previous year, the company earned $1.97 EPS. On average, equities analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CINF. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a report on Wednesday, July 15th. Bank of America downgraded shares of 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 report on Thursday, July 30th. Roth Capital boosted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company 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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