First Trust Direct Indexing L.P. Makes New Investment in Cincinnati Financial Co. (NASDAQ:CINF)

First Trust Direct Indexing L.P. purchased a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the fourth quarter, Holdings Channel reports. The fund purchased 1,974 shares of the insurance provider’s stock, valued at approximately $204,000.

A number of other institutional investors also recently added to or reduced their stakes in CINF. Searle & CO. bought a new stake in shares of Cincinnati Financial in the 4th quarter worth $1,419,000. Victory Capital Management Inc. raised its position in shares of Cincinnati Financial by 119.4% during the fourth quarter. Victory Capital Management Inc. now owns 173,909 shares of the insurance provider’s stock worth $17,993,000 after purchasing an additional 94,631 shares during the period. Savant Capital LLC raised its position in shares of Cincinnati Financial by 1.6% during the fourth quarter. Savant Capital LLC now owns 6,041 shares of the insurance provider’s stock worth $625,000 after purchasing an additional 96 shares during the period. Choreo LLC acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth $476,000. Finally, Mather Group LLC. raised its position in shares of Cincinnati Financial by 23.9% during the fourth quarter. Mather Group LLC. now owns 6,544 shares of the insurance provider’s stock worth $677,000 after purchasing an additional 1,262 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $117.44 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market cap of $18.39 billion, a P/E ratio of 7.81, a PEG ratio of 2.50 and a beta of 0.63. The stock’s 50-day moving average is $118.30 and its two-hundred day moving average is $109.90. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.13 billion. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The company’s revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. Analysts predict that Cincinnati Financial Co. will post 6.37 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, June 14th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.56%.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $113.47 per share, with a total value of $113,470.00. Following the acquisition, the director now directly owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CINF. Piper Sandler reaffirmed a “neutral” rating and set a $116.00 target price on shares of Cincinnati Financial in a research report on Monday, April 1st. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. Finally, Citigroup increased their price objective on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $124.50.

Cincinnati Financial Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It 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.