Sequoia Financial Advisors LLC Buys 15,910 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Sequoia Financial Advisors nearly doubled its Cincinnati Financial position in the second quarter, buying 15,910 additional shares for a total holding of 32,589 shares valued at approximately $6.0 million. Institutional investors collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, missing analysts’ $1.82 estimate, despite revenue of $4.27 billion. Shares recently opened at $169.80, below the analyst consensus price target of $195.40.
• The company declared a quarterly dividend of $0.94 per share, equivalent to $3.76 annually and a 2.2% yield. Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy,” although several firms maintain neutral ratings.

Sequoia Financial Advisors LLC increased its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 95.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,589 shares of the insurance provider's stock after purchasing an additional 15,910 shares during the period. Sequoia Financial Advisors LLC's holdings in Cincinnati Financial were worth $6,034,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of 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 during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Cincinnati Financial during the 2nd quarter valued at $3,585,000. GQG Partners LLC bought a new stake in Cincinnati Financial during the second quarter valued at about $216,679,000. Eurizon Capital SGR S.p.A. purchased a new stake in Cincinnati Financial in the 4th quarter worth approximately $1,231,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Cincinnati Financial in the first quarter worth $12,002,000. 65.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk Debbink purchased 1,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares in the company, valued at $10,651,806.76. The trade was a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.94% of the company's stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $169.80 on Friday. The company has a market capitalization of $26.06 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 3.55 and a beta of 0.53. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 52 week low of $150.00 and a 52 week high of $194.81. The firm has a 50 day moving average of $175.60 and a 200 day moving average of $169.14.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates 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 period in the previous year, the business earned $1.97 EPS. On average, sell-side analysts predict that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their target price on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a research report on Wednesday, August 5th. Piper Sandler boosted their target price 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. Weiss Ratings raised Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Bank of America lowered Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $195.40.

Cincinnati Financial Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers' compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.

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