Ellsworth Advisors LLC Purchases 35,654 Shares of Cincinnati Financial Corporation $CINF

by · The Markets Daily

Ellsworth Advisors LLC grew its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 644.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,187 shares of the insurance provider’s stock after buying an additional 35,654 shares during the quarter. Ellsworth Advisors LLC’s holdings in Cincinnati Financial were worth $6,564,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Nykredit A S bought a new position in shares of Cincinnati Financial during the 2nd quarter valued at approximately $29,340,000. Bank of America Corp DE purchased a new stake in Cincinnati Financial in the second quarter valued at approximately $347,891,000. National Pension Service raised its holdings in shares of Cincinnati Financial by 394.1% during the 2nd quarter. National Pension Service now owns 1,280,676 shares of the insurance provider’s stock valued at $237,104,000 after buying an additional 1,021,465 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Cincinnati Financial by 1,474.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock valued at $415,267,000 after acquiring an additional 2,100,563 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of Cincinnati Financial during the second quarter valued at about $3,585,000. 65.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods decreased their price target on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday. Roth Capital raised their price target on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research report on Wednesday, July 15th. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Finally, Piper Sandler boosted their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average target price of $191.60.

View Our Latest Stock Report on Cincinnati Financial

Cincinnati Financial Price Performance

Shares of CINF opened at $167.22 on Friday. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81. The company has a market cap of $25.66 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 2.81 and a beta of 0.52. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $168.33 and a two-hundred day moving average of $169.59.

Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter last year, the company earned $1.97 EPS. As a group, analysts predict that Cincinnati Financial Corporation will post 8.44 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 17.74%.

Insiders Place Their Bets

In other news, Director Dirk Debbink acquired 1,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.94% of the company’s stock.

Cincinnati Financial Profile

(Free Report)

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Through its subsidiaries, the company markets property and casualty insurance products primarily through a network of independent insurance agents.

Its offerings include commercial and personal property and casualty coverage, such as businessowners’ policies, commercial auto, workers’ compensation, homeowners and automobile insurance. The company also provides life insurance and related financial products through Cincinnati Life Insurance Company.

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