Allstate Corp Makes New Investment in Cincinnati Financial Corporation $CINF

Allstate Corp acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,496 shares of the insurance provider’s stock, valued at approximately $869,000.

Other institutional investors have also recently made changes to their positions in the company. Natural Investments LLC boosted its stake in Cincinnati Financial by 2.1% during the third quarter. Natural Investments LLC now owns 3,421 shares of the insurance provider’s stock worth $540,000 after acquiring an additional 70 shares in the last quarter. ORG Partners LLC boosted its holdings in shares of Cincinnati Financial by 5.0% during the 2nd quarter. ORG Partners LLC now owns 1,509 shares of the insurance provider’s stock valued at $226,000 after acquiring an additional 72 shares during the last quarter. HUB Investment Partners LLC raised its stake in Cincinnati Financial by 3.9% during the 2nd quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider’s stock valued at $303,000 after buying an additional 77 shares during the last quarter. Forum Financial Management LP boosted its position in Cincinnati Financial by 2.1% in the second quarter. Forum Financial Management LP now owns 3,949 shares of the insurance provider’s stock worth $588,000 after purchasing an additional 80 shares during the last quarter. Finally, PCA Investment Advisory Services Inc. increased its holdings in Cincinnati Financial by 0.7% during the second quarter. PCA Investment Advisory Services Inc. now owns 10,935 shares of the insurance provider’s stock valued at $1,628,000 after buying an additional 81 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $161.78 on Thursday. The company has a market capitalization of $25.24 billion, a PE ratio of 12.04, a P/E/G ratio of 3.63 and a beta of 0.66. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $169.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.30 and a current ratio of 0.30. The company has a 50-day simple moving average of $164.31 and a two-hundred day simple moving average of $157.78.

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 business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the company earned $1.42 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 22nd were given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, December 22nd. Cincinnati Financial’s dividend payout ratio is presently 25.89%.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average price of $153.98 per share, for a total transaction of $153,980.00. Following the acquisition, the director owned 58,482 shares in the company, valued at $9,005,058.36. This represents a 1.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Roth Mkm reiterated a “buy” rating and issued a $175.00 target price on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Finally, Piper Sandler boosted their target price on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.33.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.