Valeo Financial Advisors LLC Acquires 7,420 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Valeo Financial Advisors increased its Cincinnati Financial stake by 124.9% in the third quarter, purchasing 7,420 additional shares for a total of 13,361 shares valued at approximately $2.13 million.
• Institutional investors own 65.24% of Cincinnati Financial, with several major firms—including State Street, Envestnet and Bank of America—substantially increasing or initiating positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $195.40. Cincinnati Financial also declared a quarterly dividend of $0.94 per share, representing a 2.3% yield.

Valeo Financial Advisors LLC grew its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 124.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,361 shares of the insurance provider's stock after purchasing an additional 7,420 shares during the quarter. Valeo Financial Advisors LLC's holdings in Cincinnati Financial were worth $2,129,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CINF. State Street Corp lifted its holdings in Cincinnati Financial by 225.5% during the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider's stock worth $4,993,976,000 after buying an additional 18,686,673 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Cincinnati Financial by 1,474.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider's stock valued at $415,267,000 after buying an additional 2,100,563 shares during the period. Bank of America Corp DE acquired a new position in shares of Cincinnati Financial in the second quarter worth $347,891,000. GQG Partners LLC acquired a new position in shares of Cincinnati Financial in the second quarter worth $216,679,000. Finally, Legal & General Group Plc acquired a new position in shares of Cincinnati Financial in the second quarter worth $200,331,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CINF. Piper Sandler increased their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Weiss Ratings raised Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, September 10th. Bank of America downgraded Cincinnati Financial from a "buy" rating to a "neutral" rating and cut their price target for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Roth Capital increased their price target on Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods reduced their price target on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 5th. 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $195.40.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk Debbink purchased 1,000 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were bought at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the purchase, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.94% of the stock is currently owned by corporate insiders.

Cincinnati Financial Trading Up 2.3%

NASDAQ CINF opened at $165.25 on Friday. 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 $169.60 and a two-hundred day moving average of $169.28. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $25.36 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 2.75 and a beta of 0.52.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced 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 firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter in the previous year, the business posted $1.97 earnings per share. As a group, research analysts expect that Cincinnati Financial Corporation will post 8.35 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Cincinnati Financial Company 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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