NorthCrest Asset Manangement LLC Buys 12,369 Shares of Cincinnati Financial Corporation $CINF

Key Points

• NorthCrest Asset Management increased its Cincinnati Financial stake by 388.8% during the third quarter, purchasing 12,369 additional shares for a total holding of 15,550 shares valued at approximately $2.48 million.
• Analysts maintain a generally positive view, with Cincinnati Financial receiving a “Moderate Buy” consensus rating and an average price target of $191.60, compared with the reported share price of $165.64.
• The company reported quarterly EPS of $1.43, below the $1.82 consensus estimate, but declared a quarterly dividend of $0.94, equivalent to an annualized $3.76 payout and a 2.3% yield.

NorthCrest Asset Manangement LLC boosted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 388.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,550 shares of the insurance provider's stock after buying an additional 12,369 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Cincinnati Financial were worth $2,478,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BIP Wealth LLC boosted its stake in Cincinnati Financial by 1.6% in the second quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider's stock valued at $720,000 after acquiring an additional 63 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Cincinnati Financial by 2.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider's stock valued at $577,000 after acquiring an additional 64 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Cincinnati Financial by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider's stock valued at $2,616,000 after acquiring an additional 68 shares during the period. McAdam LLC grew its position in shares of Cincinnati Financial by 2.6% during the 2nd quarter. McAdam LLC now owns 2,763 shares of the insurance provider's stock valued at $512,000 after acquiring an additional 70 shares during the period. Finally, William B. Walkup & Associates Inc. increased its stake in shares of Cincinnati Financial by 2.9% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider's stock worth $428,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

CINF has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their price objective on Cincinnati Financial from $190.00 to $171.00 and set a "market perform" rating on the stock in a research note on Monday. Weiss Ratings lowered Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a report on Thursday, October 8th. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a report on Wednesday, July 15th. Finally, Bank of America downgraded Cincinnati Financial from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and an average price target of $191.60.

Insider Activity

In other Cincinnati Financial news, Director Dirk Debbink purchased 1,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.94% of the stock is currently owned by company insiders.

Cincinnati Financial Trading Up 0.1%

Shares of Cincinnati Financial stock opened at $165.64 on Wednesday. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. The stock's 50-day simple moving average is $168.79 and its 200 day simple moving average is $169.43. The stock has a market capitalization of $25.42 billion, a P/E ratio of 7.81, a P/E/G ratio of 2.82 and a beta of 0.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). The business had revenue of $4.27 billion for the quarter, compared to analysts' expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period last year, the company earned $1.97 earnings per share. As a group, research analysts anticipate that Cincinnati Financial Corporation will post 8.35 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial's payout ratio is 17.74%.

Cincinnati Financial Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Through its subsidiaries, the company markets property and casualty insurance products primarily through a network of independent insurance agents.

Its offerings include commercial and personal property and casualty coverage, such as businessowners' policies, commercial auto, workers' compensation, homeowners and automobile insurance. The company also provides life insurance and related financial products through Cincinnati Life Insurance Company.

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