Estate Counselors LLC purchased a new stake in Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,620 shares of the insurance provider’s stock, valued at approximately $772,000.
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Several other hedge funds have also modified their holdings of the business. DekaBank Deutsche Girozentrale increased its stake in Cincinnati Financial by 27.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 34,012 shares of the insurance provider’s stock valued at $3,983,000 after purchasing an additional 7,293 shares in the last quarter. Salvus Wealth Management LLC increased its stake in Cincinnati Financial by 4.9% in the 3rd quarter. Salvus Wealth Management LLC now owns 5,332 shares of the insurance provider’s stock valued at $478,000 after purchasing an additional 250 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in Cincinnati Financial by 33.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 76,307 shares of the insurance provider’s stock valued at $9,079,000 after purchasing an additional 18,999 shares in the last quarter. Empirical Finance LLC increased its stake in Cincinnati Financial by 5.6% in the 2nd quarter. Empirical Finance LLC now owns 3,034 shares of the insurance provider’s stock valued at $361,000 after purchasing an additional 160 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Cincinnati Financial by 1,318.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,547 shares of the insurance provider’s stock valued at $318,000 after purchasing an additional 3,297 shares in the last quarter. 66.34% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Cincinnati Financial
In other news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, December 6th. The shares were purchased at an average price of $106.13 per share, for a total transaction of $106,130.00. Following the completion of the acquisition, the director now owns 45,502 shares of the company’s stock, valued at $4,829,127.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.95% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
CINF has been the subject of several research analyst reports. StockNews.com downgraded Cincinnati Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 9th. Piper Sandler raised their price target on Cincinnati Financial from $98.00 to $100.00 in a research report on Tuesday, January 10th. MKM Partners raised their price target on Cincinnati Financial from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, December 5th. Bank of America initiated coverage on Cincinnati Financial in a research report on Tuesday, September 27th. They set a “neutral” rating and a $92.00 price target for the company. Finally, BMO Capital Markets initiated coverage on Cincinnati Financial in a research report on Thursday. They set a “market perform” rating and a $106.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.00.
Cincinnati Financial Trading Up 1.3 %
Shares of CINF stock traded up $1.37 during mid-day trading on Monday, hitting $104.10. 36,541 shares of the company’s stock were exchanged, compared to its average volume of 468,689. Cincinnati Financial Co. has a fifty-two week low of $88.66 and a fifty-two week high of $143.22. The stock has a 50-day simple moving average of $106.31 and a two-hundred day simple moving average of $103.04. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.09. The stock has a market cap of $16.36 billion, a price-to-earnings ratio of -285.36 and a beta of 0.62.
Cincinnati Financial (NASDAQ:CINF – Get Rating) last posted its quarterly earnings data on Monday, October 31st. The insurance provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. Cincinnati Financial had a positive return on equity of 7.00% and a negative net margin of 0.43%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The business’s revenue was down 21.1% on a year-over-year basis. Equities analysts expect that Cincinnati Financial Co. will post 4.2 EPS for the current fiscal year.
Cincinnati Financial Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 16th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Thursday, December 15th. Cincinnati Financial’s payout ratio is currently -766.67%.
About Cincinnati Financial
Cincinnati Financial Corp. provides property casualty and life insurance services. It operates through the following segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment includes commercial casualty, commercial property, commercial auto, worker’s compensation, and other commercial lines insurance.
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