Spire Wealth Management Has $90,000 Holdings in Cincinnati Financial Corporation $CINF

Spire Wealth Management lifted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 247.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 605 shares of the insurance provider’s stock after acquiring an additional 431 shares during the quarter. Spire Wealth Management’s holdings in Cincinnati Financial were worth $90,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bison Wealth LLC acquired a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $210,000. Allspring Global Investments Holdings LLC boosted its position in Cincinnati Financial by 11.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,842 shares of the insurance provider’s stock worth $1,156,000 after buying an additional 832 shares during the period. Principal Financial Group Inc. grew its holdings in Cincinnati Financial by 6.3% during the 1st quarter. Principal Financial Group Inc. now owns 201,411 shares of the insurance provider’s stock worth $29,752,000 after acquiring an additional 11,964 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Cincinnati Financial by 15.3% in the 1st quarter. OneDigital Investment Advisors LLC now owns 5,728 shares of the insurance provider’s stock valued at $846,000 after acquiring an additional 759 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in Cincinnati Financial by 35.5% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,277 shares of the insurance provider’s stock valued at $336,000 after acquiring an additional 597 shares during the period. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CINF. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $177.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday. Roth Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $171.67.

Cincinnati Financial Stock Up 1.7%

Shares of NASDAQ:CINF opened at $160.04 on Thursday. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 4.27 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.30 and a quick ratio of 0.29. The business’s 50-day moving average is $156.23 and its 200-day moving average is $150.56. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. Equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, September 22nd. Cincinnati Financial’s payout ratio is currently 25.89%.

Insider Activity

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, October 28th. The shares were bought at an average cost of $153.98 per share, with a total value of $153,980.00. Following the purchase, the director directly owned 58,482 shares of the company’s stock, valued at $9,005,058.36. This trade represents a 1.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.83% of the stock is owned by corporate insiders.

Cincinnati Financial Company 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.