Cincinnati Financial Corporation $CINF Stock Acquired by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB increased its Cincinnati Financial stake by 985.8% in the third quarter, adding 33,154 shares for a total position worth approximately $5.82 million. Institutional investors and hedge funds collectively own 65.24% of the company.
• Cincinnati Financial declared a quarterly dividend of $0.94 per share, or $3.76 annualized, representing a 2.3% yield. Director Dirk Debbink also purchased 1,000 shares worth $171,640.
• The stock opened at $162.14, below its 50-day and 200-day moving averages, after the company reported quarterly EPS of $1.43—below the $1.82 analyst consensus. Analysts maintain a “Moderate Buy” consensus with an average price target of $195.40.

MassMutual Private Wealth & Trust FSB increased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 985.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,517 shares of the insurance provider's stock after purchasing an additional 33,154 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Cincinnati Financial were worth $5,820,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BIP Wealth LLC lifted its holdings in Cincinnati Financial by 1.6% during the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider's stock worth $720,000 after buying an additional 63 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Cincinnati Financial by 2.1% during the second quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider's stock worth $577,000 after purchasing an additional 64 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Cincinnati Financial by 0.5% in the second quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider's stock valued at $2,616,000 after purchasing an additional 68 shares in the last quarter. McAdam LLC increased its stake in Cincinnati Financial by 2.6% in the second quarter. McAdam LLC now owns 2,763 shares of the insurance provider's stock valued at $512,000 after purchasing an additional 70 shares during the last quarter. Finally, William B. Walkup & Associates Inc. increased its stake in Cincinnati Financial by 2.9% in the first quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider's stock valued at $428,000 after purchasing an additional 82 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Dirk Debbink acquired 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were purchased at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. This 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 through this hyperlink. Corporate insiders own 2.94% of the company's stock.

Cincinnati Financial Trading Up 0.1%

Shares of CINF stock opened at $162.14 on Tuesday. The business's fifty day moving average price is $170.57 and its 200 day moving average price is $169.19. The firm has a market capitalization of $24.89 billion, a PE ratio of 7.65, a P/E/G ratio of 2.76 and a beta of 0.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its 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). The business had revenue of $4.27 billion during the quarter, compared to analyst estimates 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 last year, the business posted $1.97 EPS. As a group, sell-side 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. Investors of record on Wednesday, September 23rd will be paid a $0.94 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial's dividend payout ratio (DPR) is 17.74%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CINF. Keefe, Bruyette & Woods lowered their target price on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, September 10th. Roth Capital lifted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Bank of America downgraded Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their target price for the company from $197.00 to $193.00 in a report on Thursday, July 30th. Finally, Piper Sandler lifted their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $195.40.

Cincinnati Financial 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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