Cincinnati Financial Corporation $CINF Stake Boosted by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors increased its Cincinnati Financial stake by 470.2% in the third quarter, bringing its holdings to 41,987 shares valued at approximately $6.7 million. Institutional investors collectively own 65.24% of the company.
• Analysts maintain a generally positive view, with Cincinnati Financial receiving a consensus “Moderate Buy” rating and an average price target of $195.40.
• Cincinnati Financial reported quarterly EPS of $1.43, below the $1.82 consensus estimate, while announcing a quarterly dividend of $0.94 per share, equivalent to a 2.3% annualized yield.

Farther Finance Advisors LLC lifted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 470.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,987 shares of the insurance provider's stock after buying an additional 34,624 shares during the quarter. Farther Finance Advisors LLC's holdings in Cincinnati Financial were worth $6,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its position in Cincinnati Financial by 225.5% during the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider's stock valued at $4,993,976,000 after acquiring an additional 18,686,673 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Cincinnati Financial by 1,474.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider's stock worth $415,267,000 after acquiring an additional 2,100,563 shares during the period. Bank of America Corp DE bought a new position in shares of Cincinnati Financial in the 2nd quarter worth approximately $347,891,000. First Trust Advisors LP raised its position in shares of Cincinnati Financial by 59.4% in the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider's stock worth $331,136,000 after acquiring an additional 784,584 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Cincinnati Financial by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,514,733 shares of the insurance provider's stock worth $238,338,000 after acquiring an additional 44,608 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CINF shares. Piper Sandler lifted their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Weiss Ratings cut Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday. Roth Capital increased their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods decreased their price objective on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a report on Wednesday, August 5th. Finally, Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. One investment 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $195.40.

Insider Activity at Cincinnati Financial

In related news, Director Dirk Debbink bought 1,000 shares of the company's stock in a transaction dated Tuesday, August 25th. The stock was purchased 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 $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.94% of the company's stock.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $163.39 on Friday. The company's 50-day moving average price is $169.31 and its 200-day moving average price is $169.24. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The company has a market cap of $25.08 billion, a PE ratio of 7.71, a price-to-earnings-growth 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 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the business posted $1.97 EPS. On average, equities research analysts forecast that Cincinnati Financial Corporation will post 8.35 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio (DPR) is presently 17.74%.

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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