HighTower Advisors LLC Acquires 2,388 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

HighTower Advisors LLC boosted its stake in Cincinnati Financial Co. (NASDAQ:CINFFree Report) by 1.6% in the third quarter, HoldingsChannel reports. The firm owned 152,409 shares of the insurance provider’s stock after buying an additional 2,388 shares during the period. HighTower Advisors LLC’s holdings in Cincinnati Financial were worth $15,576,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Cincinnati Financial by 1.2% during the first quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider’s stock valued at $2,453,379,000 after purchasing an additional 211,402 shares in the last quarter. BlackRock Inc. increased its holdings in Cincinnati Financial by 0.9% during the second quarter. BlackRock Inc. now owns 12,024,975 shares of the insurance provider’s stock worth $1,170,271,000 after buying an additional 111,506 shares during the last quarter. State Street Corp increased its holdings in Cincinnati Financial by 4.1% during the first quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock worth $1,246,056,000 after buying an additional 360,552 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cincinnati Financial by 2.2% during the second quarter. Geode Capital Management LLC now owns 3,418,578 shares of the insurance provider’s stock worth $331,845,000 after buying an additional 74,713 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Cincinnati Financial by 1.4% during the first quarter. Bank of America Corp DE now owns 3,037,811 shares of the insurance provider’s stock worth $340,478,000 after buying an additional 42,128 shares during the last quarter. 64.81% of the stock is owned by institutional investors.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 2,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was acquired at an average cost of $102.98 per share, for a total transaction of $205,960.00. Following the completion of the transaction, the director now directly owns 51,542 shares in the company, valued at approximately $5,307,795.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.84% of the stock is owned by corporate insiders.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $110.53 on Tuesday. The company has a 50 day moving average of $106.78 and a 200 day moving average of $104.77. The stock has a market cap of $17.34 billion, a P/E ratio of 9.47, a P/E/G ratio of 2.49 and a beta of 0.63. Cincinnati Financial Co. has a 12 month low of $95.01 and a 12 month high of $127.77. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.95 by $0.33. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. Cincinnati Financial’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 earnings per share. As a group, sell-side analysts forecast that Cincinnati Financial Co. will post 6.14 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, March 19th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $3.24 annualized dividend and a yield of 2.93%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s payout ratio is currently 25.71%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Oppenheimer assumed coverage on shares of Cincinnati Financial in a report on Thursday, November 16th. They set a “market perform” rating for the company. Janney Montgomery Scott assumed coverage on shares of Cincinnati Financial in a report on Thursday, December 14th. They set a “neutral” rating and a $110.00 price objective for the company. Citigroup began coverage on shares of Cincinnati Financial in a report on Wednesday, November 22nd. They set a “neutral” rating and a $110.00 price objective for the company. TheStreet upgraded shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Finally, Piper Sandler lifted their target price on shares of Cincinnati Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $113.67.

Check Out Our Latest Stock Analysis on Cincinnati Financial

About Cincinnati Financial

(Free Report)

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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

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