Paloma Partners Management Co bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,308 shares of the insurance provider's stock, valued at approximately $586,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. raised its holdings in Cincinnati Financial by 20.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,585 shares of the insurance provider's stock valued at $321,000 after acquiring an additional 444 shares in the last quarter. Cetera Investment Advisers raised its holdings in Cincinnati Financial by 178.5% in the first quarter. Cetera Investment Advisers now owns 20,322 shares of the insurance provider's stock valued at $2,523,000 after acquiring an additional 13,026 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Cincinnati Financial by 2.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 25,518 shares of the insurance provider's stock valued at $3,134,000 after acquiring an additional 594 shares in the last quarter. CWM LLC raised its holdings in Cincinnati Financial by 77.7% in the second quarter. CWM LLC now owns 8,388 shares of the insurance provider's stock valued at $991,000 after acquiring an additional 3,669 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in Cincinnati Financial in the second quarter valued at $5,731,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
CINF has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Bank of America increased their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, Piper Sandler increased their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $138.57.
Check Out Our Latest Report on Cincinnati Financial
Cincinnati Financial Price Performance
CINF traded down $0.19 on Wednesday, reaching $156.30. The company had a trading volume of 338,466 shares, compared to its average volume of 688,437. The company has a fifty day moving average of $144.90 and a 200-day moving average of $131.75. The company has a market capitalization of $24.43 billion, a P/E ratio of 8.03, a PEG ratio of 3.01 and a beta of 0.69. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. 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 for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the business posted $1.66 EPS. The business's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cincinnati Financial Co. will post 6.31 earnings per share for the current year.
Cincinnati Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. The ex-dividend date is Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.07%. Cincinnati Financial's dividend payout ratio (DPR) is 16.65%.
About Cincinnati Financial
(
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.
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