Triton Financial Group Inc Makes New $2 Million Investment in Cincinnati Financial Corporation $CINF

Triton Financial Group Inc bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,819 shares of the insurance provider’s stock, valued at approximately $2,003,000. Cincinnati Financial comprises about 1.2% of Triton Financial Group Inc’s portfolio, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Cincinnati Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock worth $671,265,000 after buying an additional 25,888 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Cincinnati Financial during the 2nd quarter valued at about $3,585,000. Eurizon Capital SGR S.p.A. purchased a new stake in Cincinnati Financial during the 4th quarter valued at about $1,231,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Cincinnati Financial in the 1st quarter valued at about $12,002,000. Finally, GQG Partners LLC acquired a new stake in Cincinnati Financial in the 2nd quarter valued at about $216,679,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were bought at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the acquisition, the director directly owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.94% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CINF shares. Keefe, Bruyette & Woods lowered their target price on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Finally, Roth Capital upped their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $195.40.

Cincinnati Financial Stock Up 0.1%

Cincinnati Financial stock opened at $172.52 on Friday. The company has a market capitalization of $26.48 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 3.61 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The firm has a 50 day moving average price of $178.06 and a 200 day moving average price of $168.65.

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). The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same period in the prior year, the company posted $1.97 EPS. Research analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial’s payout ratio is presently 17.74%.

About Cincinnati Financial

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.