Manning & Napier Advisors LLC Makes New Investment in Cincinnati Financial Corporation $CINF

Key Points

• Manning & Napier Advisors initiated a Cincinnati Financial position by purchasing 19,255 shares valued at approximately $3.585 million. Other institutions also added new stakes, with institutional investors collectively owning 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, below the $1.82 analyst consensus, while revenue reached $4.27 billion versus expectations of $2.71 billion. Analysts project full-year EPS of $8.31.
• The company declared a quarterly dividend of $0.94 per share, or $3.76 annualized, representing a 2.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $195.40, above the reported share price of $171.21.

Manning & Napier Advisors LLC bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,255 shares of the insurance provider's stock, valued at approximately $3,585,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Asset One Wealth Management LLC bought a new position in Cincinnati Financial during the second quarter valued at approximately $354,000. Cibc World Market Inc. bought a new stake in Cincinnati Financial in the 2nd quarter worth approximately $3,108,000. OMERS ADMINISTRATION Corp bought a new stake in Cincinnati Financial in the 2nd quarter worth approximately $1,699,000. Osmosis Investment Management UK Ltd purchased a new stake in Cincinnati Financial during the 2nd quarter valued at $1,222,000. Finally, Sanctuary Advisors LLC purchased a new stake in Cincinnati Financial during the 2nd quarter valued at $5,909,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $171.21 on Tuesday. The stock has a 50-day moving average price of $178.00 and a 200 day moving average price of $168.63. The stock has a market capitalization of $26.28 billion, a P/E ratio of 8.08, a P/E/G ratio of 3.52 and a beta of 0.54. Cincinnati Financial Corporation has a 12-month low of $150.00 and a 12-month high of $194.81. 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 quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The business had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same period in the prior year, the firm posted $1.97 earnings per share. Equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Bank of America cut Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. Keefe, Bruyette & Woods lowered their target price on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a report on Wednesday, August 5th. Weiss Ratings cut Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research report on Friday. Finally, Piper Sandler boosted their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. One research 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. According to MarketBeat.com, Cincinnati Financial has an average rating of "Moderate Buy" and an average price target of $195.40.

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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