Integrated Wealth Concepts LLC Purchases 24,107 Shares of Cincinnati Financial Corporation $CINF

Integrated Wealth Concepts LLC lifted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 97.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,808 shares of the insurance provider’s stock after purchasing an additional 24,107 shares during the period. Integrated Wealth Concepts LLC’s holdings in Cincinnati Financial were worth $9,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System raised its stake in shares of Cincinnati Financial by 20,126.7% during the second quarter. California State Teachers Retirement System now owns 41,788,505 shares of the insurance provider’s stock valued at $7,736,724,000 after acquiring an additional 41,581,904 shares during the last quarter. State Street Corp increased its holdings in Cincinnati Financial by 0.3% in the third quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock valued at $1,357,825,000 after purchasing an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Cincinnati Financial by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock worth $1,083,151,000 after buying an additional 97,761 shares during the period. Geode Capital Management LLC lifted its holdings in Cincinnati Financial by 0.6% during the 4th 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 during the period. Finally, First Trust Advisors LP grew its position in shares of Cincinnati Financial by 59.4% in the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after buying an additional 784,584 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Activity at Cincinnati Financial

In other news, Director Dirk Debbink bought 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were bought at an average cost of $171.64 per share, with a total value of $171,640.00. Following the completion of the transaction, the director directly owned 62,059 shares of the company’s stock, 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 currently owned by corporate insiders.

Cincinnati Financial Stock Performance

Shares of CINF opened at $169.59 on Friday. 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 50-day moving average of $176.05 and a 200-day moving average of $169.13. The company has a market cap of $26.03 billion, a PE ratio of 8.00, a P/E/G ratio of 3.54 and a beta of 0.53. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The firm 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 period in the previous year, the firm earned $1.97 earnings per share. On average, equities research analysts predict that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

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

Analysts Set New Price Targets

CINF has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a report on Wednesday, July 15th. Roth Capital boosted their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average price target of $195.40.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers’ compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.