Bessemer Group Inc. Sells 6,240 Shares of Cincinnati Financial Corporation $CINF

Bessemer Group Inc. trimmed its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 72.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,345 shares of the insurance provider’s stock after selling 6,240 shares during the quarter. Bessemer Group Inc.’s holdings in Cincinnati Financial were worth $348,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. GQG Partners LLC bought a new position in Cincinnati Financial during the 1st quarter worth about $270,005,000. Raymond James Financial Inc. increased its holdings in Cincinnati Financial by 558.8% during the 1st quarter. Raymond James Financial Inc. now owns 540,950 shares of the insurance provider’s stock worth $79,909,000 after purchasing an additional 458,841 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cincinnati Financial by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider’s stock worth $940,130,000 after purchasing an additional 358,018 shares in the last quarter. Nuveen LLC bought a new position in Cincinnati Financial during the 1st quarter worth about $47,070,000. Finally, Woodline Partners LP increased its holdings in Cincinnati Financial by 3,392.1% during the 1st quarter. Woodline Partners LP now owns 327,800 shares of the insurance provider’s stock worth $48,423,000 after purchasing an additional 318,413 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the purchase, the director owned 58,482 shares of the company’s stock, valued at approximately $9,005,058.36. This trade represents a 1.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CINF shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Roth Capital reiterated a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $167.67.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $154.59 on Monday. The stock has a market capitalization of $24.12 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 4.27 and a beta of 0.72. The business has a 50-day moving average of $156.03 and a 200-day moving average of $150.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.30 and a quick ratio of 0.29. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $166.90.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.84. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.Cincinnati Financial’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 EPS. As a group, sell-side analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd were issued a $0.87 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 25.89%.

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.