Susquehanna Fundamental Investments LLC Acquires 72,455 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Susquehanna Fundamental Investments increased its Cincinnati Financial stake by 307.5% in the second quarter, acquiring 72,455 shares for a total holding of 96,014 shares worth approximately $17.8 million. Institutional investors collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, missing analysts’ $1.82 estimate, although revenue of $4.27 billion exceeded expectations. The stock opened at $171.97, compared with a consensus analyst price target of $195.40 and a “Moderate Buy” average rating.
• The company declared a quarterly dividend of $0.94 per share, equivalent to $3.76 annually and a 2.2% yield. A company director also purchased 1,000 shares worth $171,640 in an open-market transaction.

Susquehanna Fundamental Investments LLC grew its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 307.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,014 shares of the insurance provider's stock after acquiring an additional 72,455 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.06% of Cincinnati Financial worth $17,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CINF. Geode Capital Management LLC grew its stake in Cincinnati Financial by 0.6% during the fourth 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. GQG Partners LLC bought a new stake in Cincinnati Financial in the 2nd quarter valued at $216,679,000. Manning & Napier Advisors LLC purchased a new stake in Cincinnati Financial in the 2nd quarter worth $3,585,000. Eurizon Capital SGR S.p.A. purchased a new stake in Cincinnati Financial in the 4th quarter worth $1,231,000. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Cincinnati Financial during the 1st quarter valued at about $12,002,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $171.97 on Monday. The stock has a 50 day moving average price of $178.09 and a 200 day moving average price of $168.68. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. 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 firm has a market capitalization of $26.39 billion, a P/E ratio of 8.11, a P/E/G ratio of 3.60 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results 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 business had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same quarter in the previous year, the business earned $1.97 EPS. As a group, sell-side analysts predict that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Roth Capital lifted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Piper Sandler raised their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Weiss Ratings downgraded shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research note on Friday, August 21st. 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 cut shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $195.40.

Cincinnati Financial 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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