Cincinnati Financial Corporation $CINF Position Boosted by Empirical Finance LLC

Empirical Finance LLC boosted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 266.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,658 shares of the insurance provider’s stock after acquiring an additional 14,297 shares during the quarter. Empirical Finance LLC’s holdings in Cincinnati Financial were worth $3,639,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Keating Financial Advisory Services Inc. acquired a new position in Cincinnati Financial during the 2nd quarter worth $27,000. Motiv8 Investments LLC acquired a new position in shares of Cincinnati Financial during the fourth quarter valued at $29,000. Covestor Ltd increased its holdings in shares of Cincinnati Financial by 98.8% during the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 83 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Cincinnati Financial during the first quarter valued at about $34,000. Finally, DV Equities LLC bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $36,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods decreased their target price on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. Piper Sandler boosted their price target 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. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Weiss Ratings cut shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Finally, Roth Capital raised their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.40.

Insider Buying and Selling at Cincinnati Financial

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

Cincinnati Financial Price Performance

Shares of NASDAQ CINF traded down $1.96 during midday trading on Tuesday, reaching $169.14. The company’s stock had a trading volume of 424,319 shares, compared to its average volume of 744,058. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81. The company has a market cap of $25.96 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 3.58 and a beta of 0.53. The company has a 50 day moving average price of $177.17 and a 200 day moving average price of $169.00. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF) last issued its 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). The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate 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 business posted $1.97 earnings per share. On average, equities research analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current 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 paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

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.