Brindle & Bay Financial Advisors LLC Makes New $1.25 Million Investment in Cincinnati Financial Corporation $CINF

Key Points

• Brindle & Bay Financial Advisors acquired 7,852 Cincinnati Financial shares worth approximately $1.25 million in the third quarter. Institutional investors collectively own 65.24% of the insurer.
• Cincinnati Financial’s stock opened at $167.22, while analysts maintain a “Moderate Buy” consensus with an average price target of $191.60.
• The company pays a quarterly dividend of $0.94 per share, equivalent to a $3.76 annualized payout and a 2.2% yield. Its latest quarterly EPS of $1.43 missed the $1.82 consensus estimate.

Brindle & Bay Financial Advisors LLC acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,852 shares of the insurance provider's stock, valued at approximately $1,251,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CINF. Keating Financial Advisory Services Inc. acquired a new position in shares of Cincinnati Financial in the second quarter worth about $27,000. Covestor Ltd boosted its stake in shares of Cincinnati Financial by 98.8% during the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock worth $31,000 after acquiring an additional 83 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Cincinnati Financial during the 1st quarter valued at about $34,000. Elevation Wealth Partners LLC grew its position in shares of Cincinnati Financial by 230.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 150 shares during the period. Finally, Davis Capital Management grew its position in shares of Cincinnati Financial by 7,433.3% during the 3rd quarter. Davis Capital Management now owns 226 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 223 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink acquired 1,000 shares of the business's stock in a transaction on 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 acquisition, the director owned 62,059 shares in the company, valued at approximately $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 available through the SEC website. Corporate insiders own 2.94% of the company's stock.

Cincinnati Financial Trading Up 0.3%

CINF stock opened at $167.22 on Friday. Cincinnati Financial Corporation has a 12-month low of $150.00 and a 12-month high of $194.81. The business's 50-day moving average is $168.33 and its 200 day moving average is $169.59. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. The stock has a market cap of $25.66 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 2.81 and a beta of 0.52.

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 business had revenue of $4.27 billion for the quarter, compared to analysts' expectations 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 company earned $1.97 EPS. On average, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.44 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio is currently 17.74%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CINF. Roth Capital lifted their price target on Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Bank of America downgraded Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Piper Sandler raised their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their price objective on Cincinnati Financial from $190.00 to $171.00 and set a "market perform" rating on the stock in a report on Monday. Finally, Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $191.60.

About Cincinnati Financial

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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