Verity & Verity LLC Raises Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Verity & Verity LLC raised its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,368 shares of the insurance provider’s stock after buying an additional 2,121 shares during the period. Verity & Verity LLC owned about 0.06% of Cincinnati Financial worth $12,437,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Covestor Ltd lifted its position in Cincinnati Financial by 728.6% in the first quarter. Covestor Ltd now owns 1,160 shares of the insurance provider’s stock valued at $144,000 after purchasing an additional 1,020 shares during the last quarter. UniSuper Management Pty Ltd increased its position in shares of Cincinnati Financial by 456.5% in the first quarter. UniSuper Management Pty Ltd now owns 9,717 shares of the insurance provider’s stock valued at $1,207,000 after acquiring an additional 7,971 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Cincinnati Financial by 57.9% during the first quarter. Bessemer Group Inc. now owns 1,342 shares of the insurance provider’s stock worth $167,000 after purchasing an additional 492 shares during the period. InterOcean Capital Group LLC increased its holdings in Cincinnati Financial by 15.4% during the 1st quarter. InterOcean Capital Group LLC now owns 5,201 shares of the insurance provider’s stock valued at $646,000 after purchasing an additional 696 shares during the period. Finally, Natixis bought a new position in Cincinnati Financial during the 1st quarter valued at approximately $22,053,000. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Stock Up 0.2 %

Shares of Cincinnati Financial stock opened at $152.13 on Tuesday. The company has a 50-day simple moving average of $139.84 and a two-hundred day simple moving average of $128.56. The stock has a market capitalization of $23.78 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65. Cincinnati Financial Co. has a 52-week low of $99.61 and a 52-week high of $152.85. 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 issued 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 for 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 revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.66 earnings per share. On average, analysts anticipate that Cincinnati Financial Co. will post 6.32 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.13%. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Roth Mkm lifted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Piper Sandler upped their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

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.