Burney Co. Makes New $516,000 Investment in Cincinnati Financial Corporation $CINF

Burney Co. purchased a new position in Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,465 shares of the insurance provider’s stock, valued at approximately $516,000.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Cincinnati Financial by 0.5% in the first quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider’s stock worth $2,844,419,000 after acquiring an additional 87,773 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cincinnati Financial by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider’s stock worth $940,130,000 after purchasing an additional 358,018 shares during the last quarter. Invesco Ltd. lifted its position in shares of Cincinnati Financial by 2.2% during the 1st quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider’s stock worth $273,062,000 after purchasing an additional 40,222 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Cincinnati Financial during the 1st quarter worth $270,005,000. Finally, Bahl & Gaynor Inc. lifted its position in shares of Cincinnati Financial by 4.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,169,676 shares of the insurance provider’s stock worth $172,785,000 after purchasing an additional 49,593 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Activity

In related news, Director Dirk J. Debbink acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was purchased at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the transaction, the director directly owned 58,482 shares of the company’s stock, valued at approximately $9,005,058.36. This trade represents a 1.74% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.83% of the stock is owned by corporate insiders.

Cincinnati Financial Trading Up 1.7%

Shares of Cincinnati Financial stock opened at $160.04 on Thursday. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $166.90. The company has a current ratio of 0.30, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market cap of $24.97 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 4.27 and a beta of 0.69. The company has a 50-day moving average of $156.23 and a two-hundred day moving average of $150.56.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the company posted $1.42 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, September 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is 25.89%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CINF shares. Roth Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $177.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $171.67.

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.