Total Wealth Planning & Management Inc. Acquires Shares of 19,300 Cincinnati Financial Corporation $CINF

Key Points

• Total Wealth Planning & Management Inc. acquired 19,300 shares of Cincinnati Financial Corporation, valued at approximately $2.87 million, making it the firm's 4th largest holding.
• The stock's price has decreased by 2.3% recently, and it currently has a market cap of $25.28 billion.
• A dividend of $0.87 per share has been announced, with a yield of 2.2%, to be paid out on October 15th.

Total Wealth Planning & Management Inc. acquired a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,300 shares of the insurance provider's stock, valued at approximately $2,874,000. Cincinnati Financial accounts for 2.2% of Total Wealth Planning & Management Inc.'s investment portfolio, making the stock its 4th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CINF. Bison Wealth LLC purchased a new stake in Cincinnati Financial during the fourth quarter valued at approximately $210,000. First Citizens Bank & Trust Co. bought a new position in shares of Cincinnati Financial during the first quarter valued at approximately $248,000. Farther Finance Advisors LLC grew its stake in shares of Cincinnati Financial by 15.9% during the first quarter. Farther Finance Advisors LLC now owns 3,274 shares of the insurance provider's stock valued at $483,000 after buying an additional 450 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Cincinnati Financial by 5.4% during the first quarter. Harbor Capital Advisors Inc. now owns 3,475 shares of the insurance provider's stock valued at $513,000 after buying an additional 177 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Cincinnati Financial by 7.0% during the first quarter. GAMMA Investing LLC now owns 5,524 shares of the insurance provider's stock valued at $816,000 after buying an additional 359 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Down 2.3%

Shares of NASDAQ CINF opened at $161.68 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $25.28 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 8.09 and a beta of 0.72. The stock's fifty day simple moving average is $154.85 and its two-hundred day simple moving average is $147.96. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $166.90.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.58. The business had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The business's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. As a group, analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's dividend payout ratio (DPR) is 30.18%.

Analysts Set New Price Targets

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

About Cincinnati Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.