Duality Advisers LP boosted its position in Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) by 134.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,638 shares of the insurance provider’s stock after acquiring an additional 12,992 shares during the quarter. Duality Advisers LP’s holdings in Cincinnati Financial were worth $2,028,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Cincinnati Financial by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider’s stock worth $2,453,379,000 after purchasing an additional 211,402 shares during the period. State Street Corp raised its position in shares of Cincinnati Financial by 4.1% in the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock worth $1,246,056,000 after acquiring an additional 360,552 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cincinnati Financial by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,422,692 shares of the insurance provider’s stock valued at $329,390,000 after purchasing an additional 175,968 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Cincinnati Financial by 3.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 622,169 shares of the insurance provider’s stock valued at $74,026,000 after purchasing an additional 17,876 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Cincinnati Financial by 0.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 452,685 shares of the insurance provider’s stock worth $40,547,000 after purchasing an additional 4,067 shares during the period. 66.34% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Cincinnati Financial
In related news, Director Dirk J. Debbink acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 6th. The stock was bought at an average price of $106.13 per share, for a total transaction of $106,130.00. Following the acquisition, the director now directly owns 45,502 shares of the company’s stock, valued at approximately $4,829,127.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.95% of the company’s stock.
Cincinnati Financial Price Performance
Shares of CINF stock opened at $102.73 on Friday. The stock’s 50-day moving average price is $106.31 and its 200-day moving average price is $103.16. Cincinnati Financial Co. has a 12-month low of $88.66 and a 12-month high of $143.22. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.09.
Cincinnati Financial (NASDAQ:CINF – Get Rating) last posted its earnings results on Monday, October 31st. The insurance provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.61 billion. Cincinnati Financial had a negative net margin of 0.43% and a positive return on equity of 7.00%. The business’s quarterly revenue was down 21.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 EPS. Analysts expect that Cincinnati Financial Co. will post 4.2 earnings per share for the current year.
Cincinnati Financial Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 16th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.34%. Cincinnati Financial’s dividend payout ratio is -766.67%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Piper Sandler boosted their target price on Cincinnati Financial from $98.00 to $100.00 in a report on Tuesday, January 10th. StockNews.com downgraded shares of Cincinnati Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, November 9th. Bank of America started coverage on Cincinnati Financial in a research note on Tuesday, September 27th. They set a “neutral” rating and a $92.00 target price on the stock. BMO Capital Markets assumed coverage on Cincinnati Financial in a research note on Thursday. They issued a “market perform” rating and a $106.00 price target for the company. Finally, MKM Partners increased their price objective on Cincinnati Financial from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $107.00.
About Cincinnati Financial
Cincinnati Financial Corp. provides property casualty and life insurance services. It operates through the following segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment includes commercial casualty, commercial property, commercial auto, worker’s compensation, and other commercial lines insurance.
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