International Assets Investment Management LLC acquired a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,709 shares of the insurance provider's stock, valued at approximately $1,098,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moisand Fitzgerald Tamayo LLC bought a new stake in Cincinnati Financial in the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of Cincinnati Financial in the third quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Cincinnati Financial during the third quarter worth about $28,000. Future Financial Wealth Managment LLC bought a new position in shares of Cincinnati Financial during the third quarter worth about $29,000. Finally, Massmutual Trust Co. FSB ADV raised its position 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 last quarter. 65.24% of the stock is currently owned by institutional investors.
Cincinnati Financial Stock Performance
CINF stock traded down $6.13 during trading hours on Friday, reaching $135.58. The stock had a trading volume of 1,151,815 shares, compared to its average volume of 655,519. The stock has a 50-day simple moving average of $149.25 and a 200 day simple moving average of $137.22. Cincinnati Financial Co. has a fifty-two week low of $104.78 and a fifty-two week high of $161.74. The stock has a market capitalization of $21.19 billion, a PE ratio of 6.97, a price-to-earnings-growth ratio of 2.89 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business posted $1.66 EPS. The company's revenue for the quarter was up 21.5% on a year-over-year basis. Analysts predict that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.
Cincinnati Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 2.39%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial's dividend payout ratio is 16.65%.
Insiders Place Their Bets
In other news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the acquisition, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. The trade was a 1.87 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.83% of the company's stock.
Analyst Ratings Changes
CINF has been the subject of several research reports. Keefe, Bruyette & Woods raised 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. Piper Sandler raised their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Finally, Bank of America boosted their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average price target of $143.33.
Read Our Latest Analysis on Cincinnati Financial
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.
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