94,000 Shares in Cincinnati Financial Co. (NASDAQ:CINF) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 94,000 shares of the insurance provider's stock, valued at approximately $12,795,000. Point72 Asset Management L.P. owned 0.06% of Cincinnati Financial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CINF. Charles Schwab Investment Management Inc. lifted its position in Cincinnati Financial by 26.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider's stock valued at $787,076,000 after buying an additional 1,218,919 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Cincinnati Financial by 583.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider's stock valued at $52,531,000 after acquiring an additional 329,435 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider's stock valued at $115,758,000 after acquiring an additional 277,550 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider's stock worth $159,360,000 after purchasing an additional 187,934 shares during the period. Finally, Bahl & Gaynor Inc. increased its holdings in Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider's stock valued at $131,739,000 after purchasing an additional 107,081 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CINF. Bank of America boosted their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Finally, Piper Sandler increased their price objective 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. Two analysts have 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 $138.57.

Cincinnati Financial Stock Down 0.7 %

NASDAQ CINF traded down $1.13 during mid-day trading on Friday, reaching $156.03. 332,210 shares of the company's stock traded hands, compared to its average volume of 449,080. 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 1-year low of $100.31 and a 1-year high of $161.74. The company has a fifty day simple moving average of $145.35 and a 200-day simple moving average of $131.93. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 2.98 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm's quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.66 EPS. As a group, equities research analysts expect that Cincinnati Financial Co. will post 6.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.08%. Cincinnati Financial's dividend payout ratio (DPR) is presently 16.65%.

Insider Activity

In other news, Director Dirk J. Debbink purchased 1,000 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average cost of $157.19 per share, with a total value of $157,190.00. Following the transaction, the director now 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.83% of the company's stock.

Cincinnati Financial 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.