Jupiter Topco LLC Makes New $3.14 Million Investment in Cincinnati Financial Corporation $CINF

Key Points

• Jupiter Topco LLC acquired 16,960 shares of Cincinnati Financial in the second quarter, valued at approximately $3.14 million. Institutional investors collectively own 65.24% of the insurer.
• Analyst sentiment remains positive but mixed, with a consensus rating of “Moderate Buy” and an average price target of $195.40, compared with the reported share price of $171.69.
• Cincinnati Financial reported quarterly EPS of $1.43, below the $1.82 consensus estimate, while declaring a quarterly dividend of $0.94 per share, equivalent to a 2.2% annualized yield.

Jupiter Topco LLC acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,960 shares of the insurance provider's stock, valued at approximately $3,140,000.

A number of other large investors also recently modified their holdings of CINF. State Street Corp grew its holdings in Cincinnati Financial by 0.3% during the third quarter. State Street Corp now owns 8,542,265 shares of the insurance provider's stock worth $1,357,825,000 after buying an additional 26,475 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Cincinnati Financial by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider's stock valued at $1,083,151,000 after acquiring an additional 97,761 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cincinnati Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider's stock valued at $671,265,000 after acquiring an additional 25,888 shares in the last quarter. First Trust Advisors LP boosted its holdings in Cincinnati Financial by 59.4% during the 1st 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 last quarter. Finally, Bank of America Corp DE boosted its holdings in Cincinnati Financial by 4.2% during the 2nd quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider's stock worth $299,553,000 after acquiring an additional 80,487 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Insider Activity

In related news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the acquisition, the director owned 62,059 shares of the company's stock, valued at $10,651,806.76. This trade represents a 1.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.94% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CINF shares. 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. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a report on Wednesday, July 15th. Bank of America downgraded shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research note on Friday, August 21st. Finally, Roth Capital lifted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $195.40.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $171.69 on Thursday. The company's 50-day moving average is $177.80 and its 200 day moving average is $168.82. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $26.35 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 3.57 and a beta of 0.53. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate 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 previous year, the company posted $1.97 EPS. On average, equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid a dividend of $0.94 per share. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial's dividend payout ratio (DPR) is presently 17.74%.

About Cincinnati Financial

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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