USA Financial Formulas Acquires 3,359 Shares of Cincinnati Financial Corporation $CINF

USA Financial Formulas bought a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,359 shares of the insurance provider’s stock, valued at approximately $535,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its stake in Cincinnati Financial by 225.5% in the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider’s stock worth $4,993,976,000 after purchasing an additional 18,686,673 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Cincinnati Financial by 1,474.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock worth $415,267,000 after purchasing an additional 2,100,563 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Cincinnati Financial during the 2nd quarter worth approximately $347,891,000. Assenagon Asset Management S.A. acquired a new position in shares of Cincinnati Financial during the 3rd quarter worth approximately $248,705,000. Finally, GQG Partners LLC bought a new position in shares of Cincinnati Financial during the second quarter worth approximately $216,679,000. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CINF. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods reduced their price target on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating on the stock in a research report on Monday, October 12th. Piper Sandler increased their price target on 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 lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Finally, Roth Capital lifted their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. One equities research 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. Based on data from MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus target price of $191.60.

Cincinnati Financial Trading Up 2.4%

Shares of CINF stock opened at $171.25 on Friday. The stock’s fifty day moving average price is $168.21 and its two-hundred day moving average price is $169.60. The company has a market cap of $26.28 billion, a PE ratio of 8.08, a P/E/G ratio of 2.89 and a beta of 0.52. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. 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 (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 business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the business posted $1.97 EPS. Equities analysts predict that Cincinnati Financial Corporation will post 8.44 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

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

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the transaction, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. The trade was a 1.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.94% of the stock is currently owned by corporate insiders.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Through its subsidiaries, the company markets property and casualty insurance products primarily through a network of independent insurance agents.

Its offerings include commercial and personal property and casualty coverage, such as businessowners’ policies, commercial auto, workers’ compensation, homeowners and automobile insurance. The company also provides life insurance and related financial products through Cincinnati Life Insurance Company.