NEOS Investment Management LLC Purchases 3,200 Shares of Cincinnati Financial Corporation $CINF

NEOS Investment Management LLC increased its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 14.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,314 shares of the insurance provider’s stock after buying an additional 3,200 shares during the period. NEOS Investment Management LLC’s holdings in Cincinnati Financial were worth $4,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CINF. Keating Financial Advisory Services Inc. purchased a new position in shares of Cincinnati Financial in the second quarter valued at about $27,000. Covestor Ltd grew its position in shares of Cincinnati Financial by 98.8% during the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 83 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth about $29,000. Cassaday & Co Wealth Management LLC bought a new stake in Cincinnati Financial during the 1st quarter valued at approximately $34,000. Finally, DV Equities LLC bought a new stake in Cincinnati Financial during the 4th quarter valued at approximately $36,000. 65.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was acquired 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 of the company’s stock, valued at approximately $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.94% of the stock is owned by company insiders.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $171.10 on Monday. The firm has a fifty day simple moving average of $177.48 and a two-hundred day simple moving average of $168.96. Cincinnati Financial Corporation has a 52 week low of $150.00 and a 52 week high of $194.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $26.26 billion, a P/E ratio of 8.07, a PEG ratio of 3.58 and a beta of 0.53.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share 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 company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the firm posted $1.97 EPS. On average, analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on CINF shares. Keefe, Bruyette & Woods dropped their price target on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings cut shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Roth Capital boosted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. 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 stock. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average price target of $195.40.

Cincinnati Financial 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.