Dirk Debbink Acquires 1,000 Shares of Cincinnati Financial (NASDAQ:CINF) Stock

Cincinnati Financial Corporation (NASDAQ:CINF) Director Dirk Debbink bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average cost of $171.64 per share, with a total value of $171,640.00. Following the transaction, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cincinnati Financial Trading Down 0.3%

Shares of CINF stock opened at $171.97 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The firm’s 50 day moving average price is $178.09 and its two-hundred day moving average price is $168.68. The stock has a market cap of $26.39 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 3.61 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last released 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). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the company earned $1.97 EPS. On average, analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is currently 17.74%.

Analyst Ratings Changes

A number of research analysts have commented on CINF shares. Bank of America cut Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, August 21st. Piper Sandler boosted their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Roth Capital upped their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and a consensus target price of $195.40.

Hedge Funds Weigh In On Cincinnati Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in shares of Cincinnati Financial by 20,126.7% in the second quarter. California State Teachers Retirement System now owns 41,788,505 shares of the insurance provider’s stock worth $7,736,724,000 after buying an additional 41,581,904 shares during the last quarter. Bank of America Corp DE bought a new position in Cincinnati Financial during the 2nd quarter valued at $347,891,000. Norges Bank acquired a new position in Cincinnati Financial during the 4th quarter worth $270,892,000. GQG Partners LLC acquired a new position in Cincinnati Financial during the 2nd quarter worth $216,679,000. Finally, Legal & General Group Plc bought a new stake in shares of Cincinnati Financial in the 2nd quarter worth about $200,331,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.