Corient Private Wealth LP Invests $12.28 Million in Cincinnati Financial Corporation $CINF

Corient Private Wealth LP purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 66,342 shares of the insurance provider’s stock, valued at approximately $12,283,000.

Several other large investors have also recently modified their holdings of CINF. Bank of America Corp DE bought a new position in Cincinnati Financial in the 2nd quarter worth about $347,891,000. Norges Bank purchased a new stake in Cincinnati Financial during the 4th quarter valued at about $270,892,000. GQG Partners LLC bought a new stake in Cincinnati Financial during the 2nd quarter valued at about $216,679,000. Legal & General Group Plc purchased a new position in Cincinnati Financial in the second quarter worth about $200,331,000. Finally, First Trust Advisors LP raised its holdings in Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after buying an additional 784,584 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the stock in a transaction dated 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 purchase, the director directly owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.94% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CINF. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $197.00 to $193.00 in a report on Thursday, July 30th. Piper Sandler lifted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Roth Capital boosted their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.40.

Cincinnati Financial Stock Down 0.3%

Cincinnati Financial stock opened at $171.97 on Friday. The stock has a market cap of $26.39 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 3.60 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 one year low of $150.00 and a one year high of $194.81. The stock has a fifty day moving average of $178.09 and a 200 day moving average of $168.68.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share 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 prior year, the company posted $1.97 EPS. As a group, sell-side analysts predict that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

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

Cincinnati Financial Company Profile

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.