6,059 Shares in Cincinnati Financial Corporation $CINF Purchased by Glenview Trust Co

Glenview Trust Co acquired a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 6,059 shares of the insurance provider’s stock, valued at approximately $1,122,000.

A number of other large investors also recently added to or reduced their stakes in CINF. Bank of America Corp DE bought a new position in shares of Cincinnati Financial in the 2nd quarter valued at about $347,891,000. Norges Bank acquired a new position in Cincinnati Financial in the fourth quarter valued at approximately $270,892,000. GQG Partners LLC acquired a new position in Cincinnati Financial in the second quarter valued at approximately $216,679,000. Legal & General Group Plc bought a new position in Cincinnati Financial in the second quarter valued at approximately $200,331,000. Finally, First Trust Advisors LP boosted its stake in Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after acquiring an additional 784,584 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler upped their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their price objective on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings downgraded Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Finally, Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.40.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was bought at an average cost of $171.64 per share, with a total value of $171,640.00. Following the purchase, the director directly owned 62,059 shares of the company’s stock, valued at $10,651,806.76. The trade was a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.94% of the stock is owned by corporate insiders.

Cincinnati Financial Trading Down 0.3%

CINF opened at $171.97 on Friday. The stock has a market capitalization of $26.39 billion, a P/E ratio of 8.11, a P/E/G ratio of 3.61 and a beta of 0.54. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. The firm’s fifty day simple moving average is $178.09 and its 200 day simple moving average is $168.68.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the company posted $1.97 EPS. As a group, research analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is currently 17.74%.

Cincinnati Financial Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.