Cincinnati Financial Corporation $CINF Stock Holdings Lifted by Wedmont Private Capital

Wedmont Private Capital boosted its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 494.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,847 shares of the insurance provider’s stock after purchasing an additional 12,350 shares during the quarter. Wedmont Private Capital’s holdings in Cincinnati Financial were worth $2,366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CINF. BIP Wealth LLC grew its stake in Cincinnati Financial by 1.6% during the second quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock worth $720,000 after buying an additional 63 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Cincinnati Financial by 2.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider’s stock worth $577,000 after acquiring an additional 64 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Cincinnati Financial by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock worth $2,616,000 after acquiring an additional 68 shares during the period. McAdam LLC boosted its position in shares of Cincinnati Financial by 2.6% during the 2nd quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock worth $512,000 after acquiring an additional 70 shares in the last quarter. Finally, William B. Walkup & Associates Inc. boosted its position in shares of Cincinnati Financial by 2.9% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider’s stock worth $428,000 after acquiring an additional 82 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. 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. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a 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. Roth Capital boosted 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, Piper Sandler upped their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus price target of $195.40.

Cincinnati Financial Stock Down 1.1%

Shares of NASDAQ:CINF opened at $163.39 on Friday. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. The company has a market capitalization of $25.08 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 2.82 and a beta of 0.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The company has a fifty day moving average of $169.31 and a 200-day moving average of $169.24.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). The firm 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 period last year, the business earned $1.97 EPS. On average, equities analysts predict that Cincinnati Financial Corporation will post 8.35 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is presently 17.74%.

Insider Buying and Selling

In related news, Director Dirk Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.94% of the company’s stock.

Cincinnati Financial Profile

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.