Cincinnati Financial Corporation $CINF Shares Newly Bought by Godsey & Gibb Inc.

Key Points

• Godsey & Gibb Inc. acquired 119,298 Cincinnati Financial shares in the third quarter, worth approximately $19.0 million, while institutional investors collectively own 65.24% of the stock.
• Cincinnati Financial shares opened at $166.67, near their 50- and 200-day moving averages. The company recently reported quarterly EPS of $1.43, below the $1.82 consensus estimate, despite revenue of $4.27 billion.
• The insurer declared a quarterly dividend of $0.94 per share, equating to $3.76 annually and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $191.60.

Godsey & Gibb Inc. purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 119,298 shares of the insurance provider's stock, valued at approximately $19,013,000. Godsey & Gibb Inc. owned about 0.08% of Cincinnati Financial as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nykredit A S bought a new stake in Cincinnati Financial in the 2nd quarter worth approximately $29,340,000. Bank of America Corp DE purchased a new stake in Cincinnati Financial in the second quarter worth approximately $347,891,000. National Pension Service grew its position in Cincinnati Financial by 394.1% during the second quarter. National Pension Service now owns 1,280,676 shares of the insurance provider's stock valued at $237,104,000 after acquiring an additional 1,021,465 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Cincinnati Financial by 1,474.8% during the second quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider's stock valued at $415,267,000 after acquiring an additional 2,100,563 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in Cincinnati Financial during the second quarter valued at approximately $3,585,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Up 0.6%

Shares of Cincinnati Financial stock opened at $166.67 on Thursday. 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 52-week low of $150.00 and a 52-week high of $194.81. The company's 50 day moving average price is $168.56 and its 200-day moving average price is $169.49. The stock has a market capitalization of $25.58 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 2.79 and a beta of 0.52.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate 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. Equities research analysts forecast that Cincinnati Financial Corporation will post 8.44 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm 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 dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial's payout ratio is currently 17.74%.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk Debbink purchased 1,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was acquired 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 of the company's stock, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.94% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on CINF. Bank of America downgraded shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Roth Capital upped their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods reduced their target price on shares of Cincinnati Financial from $190.00 to $171.00 and set a "market perform" rating on the stock in a report on Monday. Piper Sandler increased their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Finally, Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research report on Wednesday, July 15th. One 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $191.60.

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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