World Investment Advisors LLC purchased a new stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,010 shares of the insurance provider's stock, valued at approximately $546,000.
Several other hedge funds have also made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC acquired a new position in Cincinnati Financial in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in Cincinnati Financial in the 3rd quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new position in Cincinnati Financial in the 3rd quarter valued at approximately $27,000. Future Financial Wealth Managment LLC acquired a new position in Cincinnati Financial in the 3rd quarter valued at approximately $29,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in Cincinnati Financial by 49.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock valued at $33,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.
Cincinnati Financial Stock Performance
Shares of NASDAQ CINF traded down $4.80 during trading hours on Wednesday, hitting $143.00. 861,391 shares of the stock were exchanged, compared to its average volume of 685,497. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The company's 50 day moving average is $148.09 and its 200 day moving average is $134.16. The firm has a market capitalization of $22.35 billion, a P/E ratio of 7.35, a P/E/G ratio of 2.89 and a beta of 0.69. Cincinnati Financial Co. has a one year low of $100.31 and a one year high of $161.74.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Cincinnati Financial's quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share. On average, research analysts expect that Cincinnati Financial Co. will post 6.31 EPS for the current year.
Cincinnati Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial's dividend payout ratio is currently 16.65%.
Insider Buying and Selling
In related news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $157.19 per share, with a total value of $157,190.00. Following the acquisition, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.83% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have weighed in on CINF shares. Bank of America upped their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Piper Sandler increased their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average target price of $143.33.
Read Our Latest Analysis on CINF
Cincinnati Financial Company Profile
(
Free Report)
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.
Read More
Before you consider Cincinnati Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cincinnati Financial wasn't on the list.
While Cincinnati Financial currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
