Point72 DIFC Ltd Invests $904,000 in Cincinnati Financial Co. (NASDAQ:CINF)

Point72 DIFC Ltd acquired a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,638 shares of the insurance provider's stock, valued at approximately $904,000.

Other institutional investors have also added to or reduced their stakes in the company. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Cincinnati Financial during the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of Cincinnati Financial during the third quarter valued at about $27,000. Rothschild Investment LLC purchased a new stake in shares of Cincinnati Financial in the second quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Cincinnati Financial in the third quarter valued at approximately $29,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 80 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Trading Down 0.7 %

Shares of CINF traded down $1.13 during mid-day trading on Friday, reaching $156.03. The company's stock had a trading volume of 332,210 shares, compared to its average volume of 686,263. 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 52 week low of $100.31 and a 52 week high of $161.74. The company's fifty day moving average price is $145.35 and its two-hundred day moving average price is $131.93. The stock has a market cap of $24.39 billion, a PE ratio of 8.02, a P/E/G ratio of 2.99 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results 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 return on equity of 8.25% and a net margin of 25.26%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm earned $1.66 earnings per share. The business's revenue for the quarter was up 21.5% on a year-over-year basis. On average, analysts predict that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 annualized dividend and a yield of 2.08%. Cincinnati Financial's payout ratio is 16.65%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CINF shares. 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 research note on Tuesday, October 29th. Piper Sandler lifted their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Finally, Bank of America boosted their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $138.57.

Insider Buying and Selling

In other news, Director Dirk J. Debbink purchased 1,000 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average price of $157.19 per share, with a total value of $157,190.00. Following the transaction, the director now directly owns 54,500 shares of the company's stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.83% of the stock is owned by corporate insiders.

Cincinnati Financial Company 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.