Verity & Verity LLC Purchases 2,121 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Verity & Verity LLC boosted its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,368 shares of the insurance provider’s stock after buying an additional 2,121 shares during the quarter. Verity & Verity LLC’s holdings in Cincinnati Financial were worth $12,437,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Covestor Ltd lifted its holdings in Cincinnati Financial by 728.6% during the first quarter. Covestor Ltd now owns 1,160 shares of the insurance provider’s stock valued at $144,000 after purchasing an additional 1,020 shares in the last quarter. UniSuper Management Pty Ltd lifted its stake in shares of Cincinnati Financial by 456.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,717 shares of the insurance provider’s stock valued at $1,207,000 after buying an additional 7,971 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Cincinnati Financial by 57.9% in the 1st quarter. Bessemer Group Inc. now owns 1,342 shares of the insurance provider’s stock worth $167,000 after buying an additional 492 shares during the period. InterOcean Capital Group LLC raised its holdings in Cincinnati Financial by 15.4% during the first quarter. InterOcean Capital Group LLC now owns 5,201 shares of the insurance provider’s stock valued at $646,000 after acquiring an additional 696 shares during the period. Finally, Natixis purchased a new position in shares of Cincinnati Financial in the first quarter valued at about $22,053,000. 65.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CINF has been the subject of several research analyst reports. Roth Mkm increased their target price on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Bank of America upped their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $152.13 on Tuesday. Cincinnati Financial Co. has a 52-week low of $99.61 and a 52-week high of $152.85. The company has a market cap of $23.78 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 2.89 and a beta of 0.65. The firm’s fifty day moving average is $139.84 and its 200 day moving average is $128.56. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the business posted $1.66 EPS. The firm’s revenue was up 21.5% on a year-over-year basis. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.32 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.13%. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Cincinnati Financial Company Profile

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