Cincinnati Financial Corporation $CINF Stock Position Increased by GAMMA Investing LLC

Key Points

• GAMMA Investing increased its Cincinnati Financial position by 165.9% in the third quarter, bringing its holdings to 21,974 shares valued at approximately $3.5 million. Institutional investors collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, missing the $1.82 consensus estimate, while revenue reached $4.27 billion. Analysts project full-year EPS of $8.35.
• The company declared a quarterly dividend of $0.94 per share, or $3.76 annually, representing a 2.3% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $195.40.

GAMMA Investing LLC lifted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 165.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,974 shares of the insurance provider's stock after purchasing an additional 13,711 shares during the quarter. GAMMA Investing LLC's holdings in Cincinnati Financial were worth $3,502,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CINF. Keating Financial Advisory Services Inc. purchased a new stake in Cincinnati Financial during the 2nd quarter worth approximately $27,000. Covestor Ltd boosted its position in Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock valued at $31,000 after buying an additional 83 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in Cincinnati Financial in the 1st quarter valued at approximately $34,000. Elevation Wealth Partners LLC boosted its position in Cincinnati Financial by 230.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider's stock valued at $34,000 after buying an additional 150 shares during the period. Finally, Davis Capital Management grew its stake in shares of Cincinnati Financial by 7,433.3% in the third quarter. Davis Capital Management now owns 226 shares of the insurance provider's stock worth $36,000 after acquiring an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Trading Up 2.3%

Shares of NASDAQ:CINF opened at $165.25 on Friday. 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 is $169.60 and its two-hundred day moving average is $169.28. The company has a market cap of $25.36 billion, a PE ratio of 7.79, a P/E/G ratio of 2.75 and a beta of 0.52. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) 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 return on equity of 9.63% and a net margin of 23.84%.During the same period last year, the firm posted $1.97 earnings per share. Equities analysts predict that Cincinnati Financial Corporation will post 8.35 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 of this dividend is Wednesday, September 23rd. Cincinnati Financial's payout ratio is 17.74%.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink purchased 1,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was bought at an average cost of $171.64 per share, with a total value of $171,640.00. Following the acquisition, the director directly owned 62,059 shares of the company's stock, valued at approximately $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.94% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CINF shares. Weiss Ratings upgraded Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, September 10th. Bank of America cut Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Roth Capital upped their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research report on Wednesday, July 15th. Finally, 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 research note on Wednesday, August 5th. One investment 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's stock. According to MarketBeat.com, Cincinnati Financial currently has an average rating of "Moderate Buy" and a consensus price target of $195.40.

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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