Assetmark Inc. Has $429,000 Position in Cincinnati Financial Corporation $CINF

Assetmark Inc. lifted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 61.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,880 shares of the insurance provider’s stock after acquiring an additional 1,098 shares during the period. Assetmark Inc.’s holdings in Cincinnati Financial were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CINF. ORG Partners LLC lifted its stake in Cincinnati Financial by 5.0% during the second quarter. ORG Partners LLC now owns 1,509 shares of the insurance provider’s stock worth $226,000 after purchasing an additional 72 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of Cincinnati Financial by 2.1% during the 2nd quarter. Forum Financial Management LP now owns 3,949 shares of the insurance provider’s stock worth $588,000 after buying an additional 80 shares in the last quarter. PCA Investment Advisory Services Inc. raised its holdings in shares of Cincinnati Financial by 0.7% during the 2nd quarter. PCA Investment Advisory Services Inc. now owns 10,935 shares of the insurance provider’s stock worth $1,628,000 after buying an additional 81 shares in the last quarter. 3Chopt Investment Partners LLC lifted its position in shares of Cincinnati Financial by 5.7% during the 2nd quarter. 3Chopt Investment Partners LLC now owns 1,641 shares of the insurance provider’s stock worth $246,000 after buying an additional 89 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in Cincinnati Financial by 51.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 282 shares of the insurance provider’s stock valued at $42,000 after buying an additional 96 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Roth Capital reiterated a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $171.67.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $164.64 on Friday. The stock has a market capitalization of $25.69 billion, a PE ratio of 12.25, a PEG ratio of 4.27 and a beta of 0.69. The business’s 50 day simple moving average is $156.62 and its 200 day simple moving average is $150.89. 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 one year low of $123.01 and a one year high of $166.90.

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

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, September 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 25.89%.

Insider Buying and Selling at Cincinnati Financial

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. Company insiders own 2.83% of the company’s stock.

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.