Insider Buying: Cincinnati Financial (NASDAQ:CINF) Director Purchases $171,640.00 in Stock

Cincinnati Financial Corporation (NASDAQ:CINF) Director Dirk Debbink purchased 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were bought at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cincinnati Financial Stock Performance

Shares of CINF opened at $171.97 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. The company has a 50-day simple moving average of $178.09 and a 200-day simple moving average of $168.68. The company has a market capitalization of $26.39 billion, a PE ratio of 8.11, a P/E/G ratio of 3.60 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the firm posted $1.97 EPS. Equities research analysts predict that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid 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 payout ratio is 17.74%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. acquired a new position in shares of Cincinnati Financial in the second quarter valued at approximately $27,000. Motiv8 Investments LLC acquired a new stake in Cincinnati Financial during the fourth quarter worth approximately $29,000. Covestor Ltd grew its stake in Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 83 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in Cincinnati Financial in the 1st quarter worth approximately $34,000. Finally, DV Equities LLC acquired a new position in Cincinnati Financial in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CINF. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. 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 report on Wednesday, August 5th. Roth Capital lifted their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Weiss Ratings cut shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial has an average rating of “Moderate Buy” and an average price target of $195.40.

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.