Rakuten Investment Management Inc. Buys Shares of 25,358 Cincinnati Financial Corporation $CINF

Rakuten Investment Management Inc. purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,358 shares of the insurance provider’s stock, valued at approximately $4,721,000.

A number of other institutional investors have also modified their holdings of CINF. Keating Financial Advisory Services Inc. purchased a new stake in Cincinnati Financial during the second quarter worth about $27,000. Motiv8 Investments LLC purchased a new position in Cincinnati Financial in the 4th quarter valued at approximately $29,000. Covestor Ltd grew its stake in shares of Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 83 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Cincinnati Financial in the first quarter worth $34,000. Finally, DV Equities LLC purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth $36,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $171.97 on Monday. 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 Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The firm has a market capitalization of $26.39 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 3.60 and a beta of 0.54. The stock’s 50-day simple moving average is $178.09 and its 200-day simple moving average is $168.68.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the firm earned $1.97 EPS. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business 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 is Wednesday, September 23rd. Cincinnati Financial’s payout ratio is currently 17.74%.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the acquisition, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CINF. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Roth Capital boosted their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Finally, Piper Sandler lifted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.40.

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.