Wealth Alliance Advisory Group LLC Takes $209,000 Position in Cincinnati Financial Co. (NASDAQ:CINF)

Wealth Alliance Advisory Group LLC purchased a new position in Cincinnati Financial Co. (NASDAQ:CINF) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,455 shares of the insurance provider’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Cincinnati Financial by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after buying an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in Cincinnati Financial by 583.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock valued at $52,531,000 after purchasing an additional 329,435 shares during the last quarter. AQR Capital Management LLC boosted its stake in Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after purchasing an additional 277,550 shares during the period. Dimensional Fund Advisors LP grew its position in Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Cincinnati Financial by 49.5% in the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after purchasing an additional 147,542 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 recent analyst reports. Piper Sandler increased their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Bank of America raised their price target on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.33.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average cost of $157.19 per share, with a total value of $157,190.00. Following the completion of the transaction, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.83% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $140.66 on Friday. Cincinnati Financial Co. has a 1 year low of $104.78 and a 1 year high of $161.74. The firm has a market cap of $21.99 billion, a P/E ratio of 7.23, a PEG ratio of 2.25 and a beta of 0.71. The stock has a fifty day moving average price of $148.67 and a two-hundred day moving average price of $138.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business earned $1.66 EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Research analysts forecast that Cincinnati Financial Co. will post 6.3 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, December 19th were issued a $0.81 dividend. The ex-dividend date was Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.30%. Cincinnati Financial’s payout ratio is currently 16.65%.

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.