Centaurus Financial Inc. Buys Shares of 3,977 Cincinnati Financial Corporation $CINF

Centaurus Financial Inc. bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,977 shares of the insurance provider’s stock, valued at approximately $736,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp grew its holdings in Cincinnati Financial by 0.3% during the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock worth $1,357,825,000 after acquiring an additional 26,475 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cincinnati Financial by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock valued at $1,083,151,000 after purchasing an additional 97,761 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cincinnati Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after purchasing an additional 25,888 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Cincinnati Financial by 59.4% during the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after purchasing an additional 784,584 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Cincinnati Financial by 4.2% during the second quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock worth $299,553,000 after purchasing an additional 80,487 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of CINF opened at $171.97 on Friday. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. 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 stock has a fifty day moving average price of $178.09 and a 200 day moving average price of $168.68. The company has a market cap of $26.39 billion, a P/E ratio of 8.11, a PEG ratio of 3.61 and a beta of 0.54.

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

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be given a $0.94 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

Analyst Ratings Changes

CINF has been the topic of several research reports. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research note on Wednesday, July 15th. Piper Sandler upped their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods reduced their price objective on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 5th. Roth Capital lifted their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.40.

Insider Transactions at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, August 25th. The stock was purchased at an average cost of $171.64 per share, with a total value of $171,640.00. Following the purchase, the director directly owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.94% of the stock is owned by insiders.

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.