Elevation Point Wealth Partners LLC Takes Position in Cincinnati Financial Corporation $CINF

by · The Markets Daily

Elevation Point Wealth Partners LLC acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINFFree Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,083 shares of the insurance provider’s stock, valued at approximately $161,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Cincinnati Financial by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock worth $2,914,738,000 after purchasing an additional 317,033 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Cincinnati Financial by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 6,470,538 shares of the insurance provider’s stock worth $963,594,000 after buying an additional 106,266 shares during the last quarter. Invesco Ltd. increased its position in Cincinnati Financial by 2.2% during the first quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider’s stock worth $273,062,000 after buying an additional 40,222 shares during the last quarter. GQG Partners LLC bought a new position in Cincinnati Financial during the first quarter valued at about $270,005,000. Finally, Bahl & Gaynor Inc. lifted its position in shares of Cincinnati Financial by 4.4% in the first quarter. Bahl & Gaynor Inc. now owns 1,169,676 shares of the insurance provider’s stock worth $172,785,000 after buying an additional 49,593 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $168.13 on Monday. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $169.86. The company has a market cap of $26.23 billion, a P/E ratio of 12.51, a P/E/G ratio of 4.27 and a beta of 0.69. The business’s 50 day moving average is $159.97 and its two-hundred day moving average is $153.56. The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINFGet 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, topping the consensus estimate of $2.01 by $0.84. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the company posted $1.42 earnings per share. Cincinnati Financial’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.87 per share. The ex-dividend date is Monday, December 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.1%. Cincinnati Financial’s payout ratio is presently 25.89%.

Analysts Set New Price Targets

CINF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Finally, Roth Capital restated a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Cincinnati Financial currently has an average rating of “Buy” and a consensus target price of $171.67.

Get Our Latest Stock Report on Cincinnati Financial

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired 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 owned 58,482 shares in the company, valued at approximately $9,005,058.36. This represents a 1.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Cincinnati Financial Profile

(Free Report)

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.

See Also

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