Cincinnati Financial Corporation $CINF Shares Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC significantly increased its stake in Cincinnati Financial Corporation by 78.3%, now holding 5,838 shares worth approximately $869,000.
• Institutional investors own over 65% of Cincinnati Financial's stock, with notable increases in holdings by GQG Partners LLC and GAMMA Investing LLC.
• Analysts have given Cincinnati Financial a consensus rating of "Moderate Buy"** with an average price target of $159.40, reflecting positive sentiment about the company’s future performance.

Farther Finance Advisors LLC raised its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 78.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,838 shares of the insurance provider's stock after acquiring an additional 2,564 shares during the quarter. Farther Finance Advisors LLC's holdings in Cincinnati Financial were worth $869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GQG Partners LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at $270,005,000. GAMMA Investing LLC raised its position in shares of Cincinnati Financial by 15,698.7% in the first quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock worth $120,540,000 after acquiring an additional 810,840 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Cincinnati Financial by 558.8% during the 1st quarter. Raymond James Financial Inc. now owns 540,950 shares of the insurance provider's stock worth $79,909,000 after acquiring an additional 458,841 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cincinnati Financial by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock valued at $940,130,000 after acquiring an additional 358,018 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Cincinnati Financial during the 1st quarter valued at about $47,070,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

CINF has been the topic of a number of recent analyst reports. Roth Capital increased their price target on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $159.40.

Cincinnati Financial Price Performance

NASDAQ:CINF opened at $154.42 on Friday. The stock has a 50 day moving average of $152.50 and a two-hundred day moving average of $146.80. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74. The firm has a market cap of $24.15 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 7.56 and a beta of 0.72. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The business's revenue was up 15.5% on a year-over-year basis. On average, analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is 30.18%.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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