34,566 Cincinnati Financial Corporation $CINF Shares Purchased by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC increased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 1,823.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,462 shares of the insurance provider’s stock after buying an additional 34,566 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Cincinnati Financial were worth $5,811,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the purchase, the director directly owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.94% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CINF has been the subject of a number of recent analyst reports. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research note on Wednesday, July 15th. Roth Capital boosted their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Piper Sandler boosted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods reduced 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 report on Monday, October 12th. Finally, Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.60.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $171.25 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $168.21 and a two-hundred day simple moving average of $169.60. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81. The firm has a market cap of $26.28 billion, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 2.82 and a beta of 0.52.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results 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 firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $1.97 earnings per share. Analysts anticipate that Cincinnati Financial Corporation will post 8.44 earnings per share for the current year.

Cincinnati Financial Announces Dividend

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

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.