Synovus Financial Corp Takes Position in Cincinnati Financial Co. (NASDAQ:CINF)

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Synovus Financial Corp purchased a new stake in Cincinnati Financial Co. (NASDAQ:CINF) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,054 shares of the insurance provider’s stock, valued at approximately $477,000.

Other hedge funds have also recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new position in shares of Cincinnati Financial in the second quarter valued at $25,000. Kavar Capital Partners LLC purchased a new position in shares of Cincinnati Financial in the second quarter valued at $26,000. Virtus ETF Advisers LLC purchased a new position in shares of Cincinnati Financial in the second quarter valued at $29,000. Signaturefd LLC increased its position in shares of Cincinnati Financial by 49.6% in the third quarter. Signaturefd LLC now owns 368 shares of the insurance provider’s stock valued at $43,000 after buying an additional 122 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Cincinnati Financial in the third quarter valued at $44,000. Institutional investors and hedge funds own 64.38% of the company’s stock.

A number of research analysts have recently weighed in on the company. BidaskClub cut Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine cut Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada raised their price target on Cincinnati Financial to $105.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. They noted that the move was a valuation call. MKM Partners raised their price target on Cincinnati Financial from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Buckingham Research raised their price target on Cincinnati Financial from $92.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $109.40.

Cincinnati Financial stock traded down $0.33 during midday trading on Friday, reaching $108.70. 481,400 shares of the company were exchanged, compared to its average volume of 673,625. The company has a market capitalization of $17.98 billion, a price-to-earnings ratio of 32.45 and a beta of 0.61. Cincinnati Financial Co. has a 1 year low of $71.21 and a 1 year high of $118.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s 50-day simple moving average is $114.04 and its 200-day simple moving average is $106.82.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.19. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.53 billion. Cincinnati Financial had a return on equity of 7.44% and a net margin of 14.18%. The company’s revenue was down 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. On average, analysts forecast that Cincinnati Financial Co. will post 4.04 EPS for the current fiscal year.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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