Wilmington Savings Fund Society FSB Makes New Investment in Cincinnati Financial Co. (NASDAQ:CINF)

Wilmington Savings Fund Society FSB purchased a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the third quarter, HoldingsChannel reports. The firm purchased 760 shares of the insurance provider’s stock, valued at approximately $103,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CINF. Charles Schwab Investment Management Inc. increased its holdings in Cincinnati Financial by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after purchasing an additional 1,218,919 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Cincinnati Financial by 583.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock worth $52,531,000 after buying an additional 329,435 shares during the period. AQR Capital Management LLC grew its stake in shares of Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after buying an additional 277,550 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after buying an additional 187,934 shares during the period. Finally, Bahl & Gaynor Inc. lifted its stake in Cincinnati Financial by 10.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after acquiring an additional 107,081 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, December 3rd. The stock was bought at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the purchase, the director now owns 54,500 shares in the company, valued at $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.83% of the company’s stock.

Analyst Upgrades and Downgrades

CINF has been the subject of several research reports. Piper Sandler lifted their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Bank of America increased their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.33.

Cincinnati Financial Stock Up 1.6 %

CINF stock opened at $144.57 on Friday. The company’s 50 day moving average price is $148.39 and its 200 day moving average price is $134.41. The firm has a market capitalization of $22.60 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 2.89 and a beta of 0.69. Cincinnati Financial Co. has a fifty-two week low of $100.31 and a fifty-two week high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company earned $1.66 EPS. On average, equities research analysts anticipate that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.24%. Cincinnati Financial’s dividend payout ratio is presently 16.65%.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It 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.