Moran Wealth Management LLC Buys Shares of 94,558 Cincinnati Financial Corporation $CINF

Key Points

• Moran Wealth Management LLC has acquired 94,558 shares of Cincinnati Financial Corporation, valued at approximately $14.08 million, representing about 0.06% ownership in the insurance provider.
• Cincinnati Financial reported an EPS of $1.97 for the last quarter, exceeding estimates by $0.58, with total revenue of $2.48 billion.
• The company announced a quarterly dividend of $0.87 per share, with a dividend yield of 2.2%.

Moran Wealth Management LLC bought a new stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 94,558 shares of the insurance provider's stock, valued at approximately $14,082,000. Moran Wealth Management LLC owned about 0.06% of Cincinnati Financial as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. purchased a new position in Cincinnati Financial in the second quarter valued at about $25,000. Spire Wealth Management lifted its stake in shares of Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after buying an additional 76 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Cincinnati Financial during the 1st quarter valued at approximately $26,000. Alpine Bank Wealth Management purchased a new stake in shares of Cincinnati Financial during the 1st quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Cincinnati Financial during the 1st quarter valued at approximately $32,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $157.88 on Tuesday. The company's fifty day moving average price is $155.27 and its 200-day moving average price is $148.15. The firm has a market capitalization of $24.69 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 7.77 and a beta of 0.72. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $166.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 EPS. On average, equities research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be issued a $0.87 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial's dividend payout ratio is presently 30.18%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CINF shares. Roth Capital upped their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial currently has an average rating of "Moderate Buy" and an average target price of $157.25.

Cincinnati Financial Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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