Cincinnati Financial Corporation $CINF Stock: Vest Financial LLC Raises Stake

Vest Financial LLC boosted its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 19.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 761,534 shares of the insurance provider’s stock after purchasing an additional 124,237 shares during the period. Cincinnati Financial accounts for 1.3% of Vest Financial LLC’s holdings, making the stock its 8th biggest holding. Vest Financial LLC’s holdings in Cincinnati Financial were worth $121,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Keating Financial Advisory Services Inc. acquired a new position in shares of Cincinnati Financial during the second quarter valued at $27,000. Covestor Ltd grew its position in shares of Cincinnati Financial by 98.8% during the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Cincinnati Financial during the first quarter worth about $34,000. Elevation Wealth Partners LLC grew its position in shares of Cincinnati Financial by 230.8% during the third quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Finally, GK Wealth Management LLC acquired a new stake in shares of Cincinnati Financial in the 3rd quarter worth about $36,000. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CINF has been the topic of several recent research reports. Roth Capital lifted their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Piper Sandler upped their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings cut shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Finally, Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.60.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink purchased 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were bought at an average cost of $171.64 per share, with a total value of $171,640.00. Following the completion of the acquisition, the director 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.94% of the company’s stock.

Cincinnati Financial Stock Up 0.9%

CINF opened at $173.63 on Thursday. The stock’s 50 day moving average price is $168.14 and its 200 day moving average price is $169.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $26.65 billion, a P/E ratio of 8.19, a P/E/G ratio of 2.90 and a beta of 0.52. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly 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 business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the firm posted $1.97 EPS. As a group, research analysts predict that Cincinnati Financial Corporation will post 8.44 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 17.74%.

Cincinnati Financial Company 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.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.