Cincinnati Financial Corporation $CINF Stock Purchased by Park National Corp OH

Key Points

• Park National Corp OH increased its Cincinnati Financial stake by 693.3% in the third quarter, acquiring 79,073 additional shares for a total position worth approximately $14.4 million. Institutional investors collectively own 65.24% of CINF.
• Analysts maintain a generally positive outlook, with Cincinnati Financial receiving a consensus “Moderate Buy” rating and an average price target of $195.40, despite some target reductions and neutral ratings.
• CINF shares recently traded at $163.10, while the company reported quarterly EPS of $1.43—below the $1.82 consensus estimate—and announced a $0.94 quarterly dividend, equivalent to a 2.3% yield.

Park National Corp OH boosted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 693.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 90,478 shares of the insurance provider's stock after buying an additional 79,073 shares during the period. Park National Corp OH owned approximately 0.06% of Cincinnati Financial worth $14,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CINF. State Street Corp raised its position in Cincinnati Financial by 225.5% in the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider's stock worth $4,993,976,000 after purchasing an additional 18,686,673 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Cincinnati Financial by 1,474.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider's stock worth $415,267,000 after buying an additional 2,100,563 shares during the period. First Trust Advisors LP lifted its stake in Cincinnati Financial by 59.4% in the first 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 during the period. Bank of America Corp DE bought a new stake in shares of Cincinnati Financial in the 2nd quarter valued at about $347,891,000. Finally, Dimensional Fund Advisors LP raised its holdings 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 valued at $238,338,000 after purchasing an additional 44,608 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods cut their price objective on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a report on Wednesday, August 5th. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. Piper Sandler boosted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Roth Capital increased their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Cincinnati Financial has an average rating of "Moderate Buy" and a consensus price target of $195.40.

Cincinnati Financial Stock Performance

Shares of CINF stock traded up $1.15 during trading hours on Monday, hitting $163.10. The company's stock had a trading volume of 121,037 shares, compared to its average volume of 740,268. The stock has a market cap of $25.03 billion, a PE ratio of 7.69, a price-to-earnings-growth ratio of 2.76 and a beta of 0.52. Cincinnati Financial Corporation has a 12-month low of $150.00 and a 12-month high of $194.81. The company has a 50 day moving average of $171.01 and a 200 day moving average of $169.21. 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 posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). The business had revenue of $4.27 billion for 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 quarter in the prior year, the firm earned $1.97 earnings per share. On average, sell-side analysts forecast that Cincinnati Financial Corporation will post 8.35 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Insider Buying and Selling

In other news, Director Dirk Debbink bought 1,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was purchased 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 in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.94% of the company's stock.

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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