Annex Advisory Services LLC Purchases New Shares in Cincinnati Financial Corporation $CINF

Key Points

• Annex Advisory Services initiated a position in Cincinnati Financial by purchasing 7,605 shares worth approximately $1.28 million, while institutional investors collectively own 65.24% of the company.
• Cincinnati Financial shares opened at $171.25, with the stock trading near its 50-day and 200-day moving averages. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $191.60.
• The company pays a quarterly dividend of $0.94 per share, equivalent to an annualized $3.76 dividend and a 2.2% yield; its latest quarterly earnings of $1.43 per share missed analyst expectations of $1.82.

Annex Advisory Services LLC purchased a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,605 shares of the insurance provider's stock, valued at approximately $1,279,000.

Several other large investors also recently bought and sold shares of CINF. Ellsworth Advisors LLC boosted its stake in shares of Cincinnati Financial by 644.4% in the third quarter. Ellsworth Advisors LLC now owns 41,187 shares of the insurance provider's stock valued at $6,564,000 after purchasing an additional 35,654 shares during the period. V Square Quantitative Management LLC grew its holdings in Cincinnati Financial by 14.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,593 shares of the insurance provider's stock valued at $573,000 after purchasing an additional 454 shares in the last quarter. Barlow Wealth Partners LLC grew its holdings in Cincinnati Financial by 351.6% during the 3rd quarter. Barlow Wealth Partners LLC now owns 13,390 shares of the insurance provider's stock valued at $2,134,000 after purchasing an additional 10,425 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Cincinnati Financial during the 3rd quarter worth $248,705,000. Finally, Brindle & Bay Financial Advisors LLC purchased a new stake in Cincinnati Financial during the 3rd quarter worth $1,251,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $171.25 on Friday. The firm has a fifty day moving average of $168.21 and a two-hundred day moving average of $169.60. The firm has a market cap of $26.28 billion, a P/E ratio of 8.08, a P/E/G ratio of 2.89 and a beta of 0.52. 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 issued its quarterly 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 company 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 period in the previous year, the business posted $1.97 EPS. As a group, research analysts anticipate that Cincinnati Financial Corporation will post 8.44 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced 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 dividend on an annualized basis 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 currently 17.74%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America lowered shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Weiss Ratings downgraded Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods lowered their target price on Cincinnati Financial from $190.00 to $171.00 and set a "market perform" rating for the company in a research note on Monday, October 12th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Roth Capital boosted their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $191.60.

Insider Activity at Cincinnati Financial

In other news, Director Dirk Debbink bought 1,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was bought at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the transaction, the director owned 62,059 shares in the company, valued at $10,651,806.76. The trade was a 1.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.94% of the company's stock.

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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