Cincinnati Financial Corporation $CINF Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 95.4% in the second quarter, HoldingsChannel reports. The firm owned 32,589 shares of the insurance provider’s stock after buying an additional 15,910 shares during the period. Sequoia Financial Advisors LLC’s holdings in Cincinnati Financial were worth $6,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CINF. MCF Advisors LLC boosted its holdings in Cincinnati Financial by 69.5% during the second quarter. MCF Advisors LLC now owns 22,772 shares of the insurance provider’s stock worth $4,216,000 after buying an additional 9,335 shares in the last quarter. National Pension Service boosted its holdings in Cincinnati Financial by 394.1% in the 2nd quarter. National Pension Service now owns 1,280,676 shares of the insurance provider’s stock worth $237,104,000 after buying an additional 1,021,465 shares during the last quarter. Cidel Asset Management Inc. acquired a new stake in shares of Cincinnati Financial in the second quarter worth approximately $859,000. Integrated Wealth Concepts LLC grew its holdings in shares of Cincinnati Financial by 97.6% during the second quarter. Integrated Wealth Concepts LLC now owns 48,808 shares of the insurance provider’s stock worth $9,036,000 after buying an additional 24,107 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Cincinnati Financial by 401.4% during the 2nd quarter. NewEdge Advisors LLC now owns 93,639 shares of the insurance provider’s stock valued at $17,336,000 after acquiring an additional 74,963 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk Debbink acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were purchased at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the transaction, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.94% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on CINF shares. Roth Capital upped their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Piper Sandler lifted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Weiss Ratings raised Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday. Finally, Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus price target of $195.40.

Cincinnati Financial Stock Up 0.1%

Cincinnati Financial stock opened at $169.80 on Friday. The company has a market capitalization of $26.06 billion, a P/E ratio of 8.01, a PEG ratio of 3.55 and a beta of 0.53. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The stock has a 50-day simple moving average of $175.60 and a 200-day simple moving average of $169.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced 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). The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same quarter last year, the business posted $1.97 earnings per share. Equities research analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend 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.