Key Points
- Director Dirk Debbink bought 1,000 Cincinnati Financial shares at an average price of $171.64, investing $171,640 and increasing his position by 1.64% to 62,059 shares.
- Cincinnati Financial’s shares opened at $172.52, while the company recently reported quarterly EPS of $1.43, below analysts’ $1.82 consensus estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $195.40.
- The insurer declared a quarterly dividend of $0.94 per share, equating to an annualized payout of $3.76 and a 2.2% yield; institutional investors own 65.24% of the stock.
Cincinnati Financial Corporation (NASDAQ:CINF - Get Free Report) Director Dirk Debbink acquired 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, with a total value of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares of the company's stock, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Cincinnati Financial Stock Up 0.1%
Shares of NASDAQ:CINF opened at $172.52 on Friday. The company's fifty day moving average is $178.06 and its 200-day moving average is $168.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. Cincinnati Financial Corporation has a 52 week low of $150.00 and a 52 week high of $194.81. The company has a market capitalization of $26.48 billion, a PE ratio of 8.14, a P/E/G ratio of 3.61 and a beta of 0.54.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the business earned $1.97 EPS. Equities research analysts predict that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.
Cincinnati Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be paid a dividend of $0.94 per share. 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 is currently 17.74%.
Hedge Funds Weigh In On Cincinnati Financial
A number of institutional investors have recently modified their holdings of the stock. Amundi lifted its position in shares of Cincinnati Financial by 22.0% during the second quarter. Amundi now owns 513,509 shares of the insurance provider's stock worth $95,071,000 after purchasing an additional 92,453 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Cincinnati Financial by 20,126.7% in the second quarter. California State Teachers Retirement System now owns 41,788,505 shares of the insurance provider's stock valued at $7,736,724,000 after purchasing an additional 41,581,904 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Cincinnati Financial by 6.7% in the second quarter. Wedmont Private Capital now owns 2,497 shares of the insurance provider's stock valued at $448,000 after purchasing an additional 156 shares in the last quarter. HB Wealth Management LLC raised its position in Cincinnati Financial by 8.2% in the 2nd quarter. HB Wealth Management LLC now owns 3,978 shares of the insurance provider's stock worth $737,000 after purchasing an additional 303 shares during the last quarter. Finally, Saudi Central Bank raised its position in Cincinnati Financial by 89.2% in the 2nd quarter. Saudi Central Bank now owns 10,898 shares of the insurance provider's stock worth $2,018,000 after purchasing an additional 5,139 shares during the last quarter. 65.24% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a research note on Wednesday, August 5th. Piper Sandler increased their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Roth Capital raised their price target on Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Bank of America cut 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 report on Thursday, July 30th. Finally, Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $195.40.
Check Out Our Latest Stock Report on CINF
Cincinnati Financial Company Profile
(
Get Free Report)
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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