Denali Advisors LLC Takes Position in Cincinnati Financial Corporation $CINF

Key Points

• Denali Advisors LLC acquired 8,024 shares of Cincinnati Financial during the second quarter, valued at approximately $1.49 million. Institutional investors collectively own 65.24% of the insurer.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $195.40, despite some target-price reductions.
• Cincinnati Financial shares opened at $168.49, down 1.7%, after the company reported quarterly EPS of $1.43—below the $1.82 consensus estimate—while revenue reached $4.27 billion.

Denali Advisors LLC bought a new stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,024 shares of the insurance provider's stock, valued at approximately $1,486,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd grew its stake in Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 83 shares in the last quarter. Motiv8 Investments LLC bought a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Cincinnati Financial during the 1st quarter worth approximately $34,000. DV Equities LLC acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at approximately $36,000. Finally, Legacy Wealth Managment LLC ID boosted its holdings in shares of Cincinnati Financial by 78.8% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider's stock valued at $40,000 after buying an additional 108 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods decreased 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 research note 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, August 6th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Piper Sandler boosted their price objective 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. Finally, Roth Capital upped their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. One equities 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $195.40.

Cincinnati Financial Stock Down 1.7%

CINF stock opened at $168.49 on Thursday. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81. The business's 50 day simple moving average is $177.98 and its 200 day simple moving average is $168.49. 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 firm has a market capitalization of $25.86 billion, a PE ratio of 7.95, a PEG ratio of 3.59 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results 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). 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 for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the business earned $1.97 EPS. As a group, research analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source