Mackenzie Financial Corp Purchases 28,714 Shares of Cincinnati Financial Corporation $CINF
by Mitch Edgeman · The Markets DailyMackenzie Financial Corp raised its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 47.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,625 shares of the insurance provider’s stock after acquiring an additional 28,714 shares during the period. Mackenzie Financial Corp’s holdings in Cincinnati Financial were worth $13,347,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CINF. Quintet Private Bank Europe S.A. acquired a new position in shares of Cincinnati Financial during the 2nd quarter worth about $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Cincinnati Financial in the 1st quarter valued at approximately $32,000. AlphaQuest LLC increased its position in Cincinnati Financial by 714.3% in the 2nd quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock worth $34,000 after buying an additional 200 shares during the period. Carderock Capital Management Inc. acquired a new position in shares of Cincinnati Financial during the second quarter worth approximately $45,000. Finally, GoalVest Advisory LLC boosted its position in shares of Cincinnati Financial by 58.9% in the second quarter. GoalVest Advisory LLC now owns 410 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 152 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was purchased at an average price of $153.98 per share, for a total transaction of $153,980.00. Following the completion of the purchase, the director directly owned 58,482 shares in the company, valued at approximately $9,005,058.36. This trade represents a 1.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is currently owned by corporate insiders.
Cincinnati Financial Stock Down 1.4%
Shares of CINF stock opened at $163.77 on Wednesday. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $169.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a fifty day moving average price of $160.38 and a 200 day moving average price of $153.76. The stock has a market cap of $25.55 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 4.35 and a beta of 0.69.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.42 EPS. Analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.
Cincinnati Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, December 22nd. Cincinnati Financial’s dividend payout ratio is 25.89%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CINF. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Roth Capital restated a “buy” rating and issued a $175.00 price target on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $171.67.
Get Our Latest Research Report on Cincinnati Financial
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.
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