Cerity Partners LLC lifted its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF – Free Report) by 41.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,186 shares of the insurance provider’s stock after acquiring an additional 1,225 shares during the quarter. Cerity Partners LLC’s holdings in Cincinnati Financial were worth $469,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in CINF. Newbridge Financial Services Group Inc. lifted its position in shares of Cincinnati Financial by 68.5% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 246 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Miller Wealth Advisors LLC lifted its position in shares of Cincinnati Financial by 235.0% during the 1st quarter. Miller Wealth Advisors LLC now owns 335 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 235 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Cincinnati Financial by 265.0% in the 1st quarter. Global Retirement Partners LLC now owns 292 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 212 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in Cincinnati Financial in the 4th quarter valued at approximately $37,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in Cincinnati Financial by 6,433.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 392 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 386 shares in the last quarter. Institutional investors own 64.81% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Piper Sandler upped their price target on Cincinnati Financial from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Monday, July 31st. TheStreet raised Cincinnati Financial from a “c+” rating to a “b-” rating in a report on Monday, May 22nd. StockNews.com assumed coverage on Cincinnati Financial in a report on Thursday, August 17th. They issued a “hold” rating for the company. Bank of America upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $113.00 to $117.00 in a research note on Thursday, May 18th. Finally, Keefe, Bruyette & Woods upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating in a research note on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $117.50.
Cincinnati Financial Stock Down 0.5 %
NASDAQ CINF opened at $104.52 on Thursday. The firm has a market cap of $16.39 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.21 and a beta of 0.61. Cincinnati Financial Co. has a one year low of $88.66 and a one year high of $130.66. The stock’s 50 day simple moving average is $103.54 and its 200 day simple moving average is $105.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.28 and a quick ratio of 0.28.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.49. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.19 billion. Cincinnati Financial had a return on equity of 6.21% and a net margin of 14.45%. As a group, sell-side analysts forecast that Cincinnati Financial Co. will post 5 earnings per share for the current fiscal year.
Cincinnati Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 18th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.00 dividend on an annualized basis and a yield of 2.87%. Cincinnati Financial’s payout ratio is 35.05%.
Cincinnati Financial Profile
Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company 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.
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