Global Retirement Partners LLC Acquires New Position in Cincinnati Financial Corporation $CINF

Global Retirement Partners LLC bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,187 shares of the insurance provider’s stock, valued at approximately $590,000.

Several other institutional investors and hedge funds have also made changes to their positions in CINF. Sandro Wealth Management LLC increased its stake in Cincinnati Financial by 5.9% during the second quarter. Sandro Wealth Management LLC now owns 3,168 shares of the insurance provider’s stock valued at $586,000 after purchasing an additional 176 shares during the last quarter. State of Wyoming grew its position in shares of Cincinnati Financial by 30.0% during the 2nd quarter. State of Wyoming now owns 2,770 shares of the insurance provider’s stock valued at $513,000 after buying an additional 640 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Cincinnati Financial by 6.9% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 68,349 shares of the insurance provider’s stock worth $12,654,000 after acquiring an additional 4,395 shares during the period. Gryphon Financial Partners LLC acquired a new position in Cincinnati Financial in the second quarter valued at approximately $202,000. Finally, North Dakota State Investment Board grew its holdings in shares of Cincinnati Financial by 2.9% during the second quarter. North Dakota State Investment Board now owns 4,580 shares of the insurance provider’s stock valued at $848,000 after purchasing an additional 127 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CINF has been the topic of several recent research reports. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a report on Wednesday, July 15th. Roth Capital raised their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Piper Sandler upped 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. Weiss Ratings raised shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. Finally, Bank of America downgraded 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average price target of $195.40.

Cincinnati Financial Stock Performance

CINF opened at $171.35 on Wednesday. The business has a 50 day moving average price of $177.94 and a two-hundred day moving average price of $168.41. 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 company has a market capitalization of $26.30 billion, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 3.62 and a beta of 0.55. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the business posted $1.97 earnings per share. Research analysts predict that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

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.