NewEdge Advisors LLC Purchases 74,963 Shares of Cincinnati Financial Corporation $CINF

NewEdge Advisors LLC raised its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 401.4% during the second quarter, HoldingsChannel.com reports. The fund owned 93,639 shares of the insurance provider’s stock after buying an additional 74,963 shares during the quarter. NewEdge Advisors LLC’s holdings in Cincinnati Financial were worth $17,336,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CINF. Bison Wealth LLC acquired a new position in Cincinnati Financial during the 4th quarter worth approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after acquiring an additional 525 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after buying an additional 173,343 shares during the period. Federated Hermes Inc. purchased a new stake in Cincinnati Financial during the 2nd quarter worth about $101,000. Finally, Cerity Partners LLC lifted its holdings in shares of Cincinnati Financial by 10.8% in the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after buying an additional 4,674 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk Debbink purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were acquired 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 approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.94% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on CINF. Roth Capital boosted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Keefe, Bruyette & Woods cut their price target on shares of 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. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Finally, Piper Sandler raised their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $195.40.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $169.59 on Friday. The firm has a fifty day simple moving average of $176.05 and a two-hundred day simple moving average of $169.13. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81. The company has a market capitalization of $26.03 billion, a PE ratio of 8.00, a P/E/G ratio of 3.54 and a beta of 0.53.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data 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). The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period last year, the business posted $1.97 earnings per share. Research analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 17.74%.

Cincinnati Financial Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers’ compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.