Cincinnati Financial Corporation $CINF Position Increased by IFP Advisors Inc

Key Points

• IFP Advisors increased its Cincinnati Financial stake by 381.9% in the second quarter, acquiring 12,819 additional shares for a total holding of 16,176 shares valued at approximately $3.0 million. Institutional investors collectively own 65.24% of the stock.
• Analyst sentiment remains positive but mixed, with Cincinnati Financial carrying a consensus “Moderate Buy” rating and an average price target of $195.40. Recent targets ranged from $190 to $200, while the stock opened at $169.80.
• Cincinnati Financial reported quarterly EPS of $1.43, below the $1.82 analyst consensus, but declared a quarterly dividend of $0.94 per share, equivalent to a 2.2% annualized yield.

IFP Advisors Inc raised its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 381.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,176 shares of the insurance provider's stock after buying an additional 12,819 shares during the quarter. IFP Advisors Inc's holdings in Cincinnati Financial were worth $2,995,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CINF. Keating Financial Advisory Services Inc. acquired a new stake in Cincinnati Financial in the 2nd quarter valued at approximately $27,000. Motiv8 Investments LLC acquired a new position in shares of Cincinnati Financial during the fourth quarter valued at $29,000. Covestor Ltd increased its holdings in shares of Cincinnati Financial by 98.8% during the second quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 83 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Cincinnati Financial during the first quarter valued at about $34,000. Finally, DV Equities LLC bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $36,000. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CINF has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their price target 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. Roth Capital upped their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research note on Wednesday, July 15th. Piper Sandler lifted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Finally, Bank of America cut shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. One equities research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $195.40.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the transaction, the director directly owned 62,059 shares of the company's stock, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.94% of the stock is currently owned by corporate insiders.

Cincinnati Financial Stock Up 0.1%

NASDAQ CINF opened at $169.80 on Friday. The firm has a 50-day simple moving average of $175.60 and a 200 day simple moving average of $169.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $26.06 billion, a PE ratio of 8.01, a PEG ratio of 3.55 and a beta of 0.53. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share 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 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 quarter in the prior year, the firm earned $1.97 EPS. On average, research analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be issued 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 dividend payout ratio (DPR) is currently 17.74%.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers' compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.

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