Corient Private Wealth LP Invests $12.28 Million in Cincinnati Financial Corporation $CINF

Key Points

• Corient Private Wealth initiated a $12.28 million position in Cincinnati Financial during the second quarter, while institutional investors collectively own 65.24% of the insurer.
• Cincinnati Financial reported quarterly earnings of $1.43 per share, below the $1.82 analyst consensus, despite revenue of $4.27 billion exceeding expectations.
• The company declared a quarterly dividend of $0.94 per share, or $3.76 annualized, yielding approximately 2.2%; analysts maintain a “Moderate Buy” consensus with a $195.40 target price.

Corient Private Wealth LP bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 66,342 shares of the insurance provider's stock, valued at approximately $12,283,000.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in Cincinnati Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider's stock worth $671,265,000 after acquiring an additional 25,888 shares during the period. GQG Partners LLC purchased a new position in Cincinnati Financial during the 2nd quarter valued at $216,679,000. Manning & Napier Advisors LLC purchased a new position in Cincinnati Financial during the 2nd quarter valued at $3,585,000. Eurizon Capital SGR S.p.A. bought a new position in Cincinnati Financial in the 4th quarter worth $1,231,000. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new position in Cincinnati Financial in the 1st quarter worth $12,002,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $171.97 on Friday. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. The firm has a market capitalization of $26.39 billion, a P/E ratio of 8.11, a P/E/G ratio of 3.60 and a beta of 0.54. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $178.09 and a two-hundred day simple moving average of $168.68.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share 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 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 in the prior year, the company earned $1.97 earnings per share. On average, equities analysts forecast that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio is 17.74%.

Wall Street Analysts Forecast Growth

CINF has been the topic of a number of research reports. Bank of America lowered shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and cut their target price for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Piper Sandler increased their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their price objective 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. Roth Capital lifted their price objective on 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 downgraded Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a report on Friday, August 21st. 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $195.40.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares of the company's stock, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.94% of the company's stock.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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