Cincinnati Financial Corporation $CINF Stock: Kestra Advisory Services LLC Grows Stake

Kestra Advisory Services LLC boosted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 13.1% in the third quarter, Holdings Channel reports. The institutional investor owned 115,730 shares of the insurance provider’s stock after acquiring an additional 13,439 shares during the period. Kestra Advisory Services LLC’s holdings in Cincinnati Financial were worth $18,444,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Cincinnati Financial by 225.5% during 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 during the last quarter. Envestnet Asset Management Inc. boosted its holdings 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 during the last quarter. Bank of America Corp DE acquired a new stake in shares of Cincinnati Financial in the second quarter valued at approximately $347,891,000. Assenagon Asset Management S.A. acquired a new position in Cincinnati Financial during the third quarter worth $248,705,000. Finally, GQG Partners LLC purchased a new stake in Cincinnati Financial in the 2nd quarter valued at $216,679,000. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $185.48 on Monday. Cincinnati Financial Corporation has a twelve month low of $153.40 and a twelve month high of $195.72. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $170.86 and a 200-day simple moving average of $168.75. The stock has a market capitalization of $28.47 billion, a PE ratio of 10.88, a PEG ratio of 2.94 and a beta of 0.48.

Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.81. Cincinnati Financial had a return on equity of 9.48% and a net margin of 20.07%. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the business earned $2.85 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts forecast that Cincinnati Financial Corporation will post 9.21 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were paid a dividend of $0.94 per share. The ex-dividend date was Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. Cincinnati Financial’s dividend payout ratio is 22.05%.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink acquired 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.94% of the company’s stock.

Analyst Upgrades and Downgrades

CINF has been the topic of several recent research reports. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Roth Capital lifted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Piper Sandler increased their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of 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. One equities 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.60.

Get Our Latest Research Report on CINF

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About Cincinnati Financial

(Free Report)

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals.

The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.

Cincinnati Financial serves customers across the United States through its network of independent agents.

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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