Verition Fund Management LLC Acquires 20,742 Shares of Cincinnati Financial Corporation $CINF

Verition Fund Management LLC raised its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 6.5% during the 4th quarter, Holdings Channel reports. The fund owned 341,193 shares of the insurance provider’s stock after purchasing an additional 20,742 shares during the period. Verition Fund Management LLC’s holdings in Cincinnati Financial were worth $55,724,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC purchased a new stake in shares of Cincinnati Financial during the 4th quarter worth $25,000. Motiv8 Investments LLC purchased a new position in Cincinnati Financial in the fourth quarter valued at about $29,000. Redmont Wealth Advisors LLC bought a new position in Cincinnati Financial in the third quarter worth about $30,000. Legacy Wealth Managment LLC ID raised its holdings in Cincinnati Financial by 78.8% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 108 shares in the last quarter. Finally, Oakworth Capital Inc. purchased a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $46,000. 65.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CINF shares. Roth Mkm raised their price target on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Piper Sandler raised their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Bank of America reduced their price target on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Weiss Ratings lowered Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $183.25.

Cincinnati Financial Price Performance

CINF stock opened at $169.01 on Monday. The stock has a market capitalization of $26.14 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 3.67 and a beta of 0.57. Cincinnati Financial Corporation has a 52 week low of $143.37 and a 52 week high of $174.27. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $163.71 and a 200 day moving average of $163.49.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the business posted ($0.24) EPS. Cincinnati Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Cincinnati Financial Corporation will post 8.61 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial’s payout ratio is currently 21.50%.

About Cincinnati Financial

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.