Dirk Debbink Purchases 1,000 Shares of Cincinnati Financial (NASDAQ:CINF) Stock

Cincinnati Financial Corporation (NASDAQ:CINF) Director Dirk Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the purchase, the director owned 62,059 shares in the company, valued at $10,651,806.76. This represents a 1.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Cincinnati Financial Price Performance

NASDAQ:CINF traded up $0.14 during trading hours on Thursday, reaching $172.52. 495,303 shares of the company traded hands, compared to its average volume of 755,887. 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 firm’s 50-day moving average is $178.01 and its 200-day moving average is $168.65. The stock has a market cap of $26.48 billion, a P/E ratio of 8.14, a P/E/G ratio of 3.59 and a beta of 0.54. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share 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 company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the firm earned $1.97 earnings per share. Equities research analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

Hedge Funds Weigh In On Cincinnati Financial

Several large investors have recently added to or reduced their stakes in CINF. BIP Wealth LLC boosted its stake in Cincinnati Financial by 1.6% in the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock valued at $720,000 after purchasing an additional 63 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Cincinnati Financial by 2.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider’s stock valued at $577,000 after buying an additional 64 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Cincinnati Financial by 0.5% during the second quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock worth $2,616,000 after purchasing an additional 68 shares during the last quarter. McAdam LLC lifted its position in shares of Cincinnati Financial by 2.6% during the 2nd quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock worth $512,000 after buying an additional 70 shares during the last quarter. Finally, Triton Financial Group Inc lifted its holdings in shares of Cincinnati Financial by 0.7% in the fourth quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider’s stock worth $1,718,000 after acquiring an additional 73 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a report on Wednesday, August 5th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. Piper Sandler upped their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Roth Capital lifted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.40.

Cincinnati Financial Company 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.