Global Assets Advisory LLC Acquires Shares of 56,809 Cincinnati Financial Co. (NASDAQ:CINF)

Global Assets Advisory LLC bought a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 56,809 shares of the insurance provider’s stock, valued at approximately $7,054,000.

A number of other hedge funds also recently modified their holdings of CINF. Assetmark Inc. increased its position in Cincinnati Financial by 252.2% during the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after buying an additional 174 shares during the period. Criterion Capital Advisors LLC bought a new position in Cincinnati Financial during the fourth quarter worth about $27,000. BKM Wealth Management LLC bought a new position in Cincinnati Financial during the fourth quarter worth about $31,000. Raleigh Capital Management Inc. acquired a new stake in Cincinnati Financial in the 4th quarter worth about $31,000. Finally, GoalVest Advisory LLC boosted its holdings in Cincinnati Financial by 122.9% in the 4th quarter. GoalVest Advisory LLC now owns 390 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 215 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the subject of a number of analyst reports. BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Citigroup boosted their price target on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $116.00 price objective on shares of Cincinnati Financial in a research note on Monday, April 1st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $126.00.

Insider Activity

In other news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were purchased at an average cost of $113.47 per share, with a total value of $113,470.00. Following the completion of the purchase, the director now owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.83% of the stock is owned by corporate insiders.

Cincinnati Financial Price Performance

NASDAQ:CINF traded up $1.40 during trading hours on Monday, hitting $116.61. The company’s stock had a trading volume of 547,723 shares, compared to its average volume of 784,950. Cincinnati Financial Co. has a twelve month low of $95.01 and a twelve month high of $124.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a fifty day simple moving average of $116.56 and a 200-day simple moving average of $113.48. The company has a market capitalization of $18.26 billion, a P/E ratio of 7.67, a PEG ratio of 2.47 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the company posted $0.89 EPS. On average, analysts anticipate that Cincinnati Financial Co. will post 6.35 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.81 per share. The ex-dividend date is Tuesday, June 18th. This represents a $3.24 annualized dividend and a dividend yield of 2.78%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.