Waverly Advisors LLC Acquires 48,638 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Waverly Advisors increased its Cincinnati Financial stake by 56.9% in the second quarter, acquiring 48,638 shares for a total holding of 134,084 shares valued at approximately $24.8 million. Institutional investors collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, missing the $1.82 consensus estimate, while revenue reached $4.27 billion. Analysts expect full-year EPS of approximately $8.31.
• The company declared a quarterly dividend of $0.94 per share, equivalent to an annualized $3.76 payout and a 2.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $195.40.

Waverly Advisors LLC raised its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 56.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,084 shares of the insurance provider's stock after acquiring an additional 48,638 shares during the period. Waverly Advisors LLC owned about 0.09% of Cincinnati Financial worth $24,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Bison Wealth LLC acquired a new position in shares of Cincinnati Financial in the 4th quarter valued at approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cincinnati Financial by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider's stock worth $2,823,000 after buying an additional 525 shares during the period. Goldman Sachs Group Inc. raised its holdings in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider's stock worth $83,889,000 after buying an additional 173,343 shares during the period. Federated Hermes Inc. bought a new position in Cincinnati Financial in the second quarter valued at approximately $101,000. Finally, Cerity Partners LLC lifted its stake in Cincinnati Financial by 10.8% in the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider's stock valued at $7,115,000 after buying an additional 4,674 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Price Performance

NASDAQ:CINF opened at $169.14 on Wednesday. The stock has a market capitalization of $25.96 billion, a PE ratio of 7.98, a P/E/G ratio of 3.58 and a beta of 0.53. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81. The firm has a fifty day simple moving average of $176.85 and a 200 day simple moving average of $169.04. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS 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 prior year, the business earned $1.97 EPS. On average, research analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Analysts Set New Price Targets

CINF has been the subject of several research reports. Roth Capital increased their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Weiss Ratings cut Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a report on Friday, August 21st. Finally, Bank of America downgraded Cincinnati Financial from a "buy" rating to a "neutral" rating and dropped their price target for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average price target of $195.40.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink acquired 1,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was bought at an average cost 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 represents a 1.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.94% of the stock is owned by corporate insiders.

Cincinnati Financial Company 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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