365 WMG Private Fund I Primus Fund LLC Purchases 5,059 Shares of Cincinnati Financial Corporation $CINF

365 WMG Private Fund I Primus Fund LLC acquired a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,059 shares of the insurance provider’s stock, valued at approximately $806,000.

A number of other large investors have also made changes to their positions in CINF. State Street Corp increased its stake in Cincinnati Financial by 225.5% during the second quarter. State Street Corp now owns 26,974,052 shares of the insurance provider’s stock valued at $4,993,976,000 after acquiring an additional 18,686,673 shares during the period. Envestnet Asset Management Inc. lifted its position 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 worth $415,267,000 after acquiring an additional 2,100,563 shares during the period. First Trust Advisors LP lifted its position in shares of Cincinnati Financial by 59.4% in the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after acquiring an additional 784,584 shares during the period. Bank of America Corp DE bought a new stake in shares of Cincinnati Financial in the 2nd quarter worth approximately $347,891,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Cincinnati Financial during the 3rd quarter worth approximately $248,705,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Transactions at Cincinnati Financial

In other news, Director Dirk Debbink purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average cost of $171.64 per share, with a total value of $171,640.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.94% of the stock is owned by corporate insiders.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $172.07 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. The business’s fifty day moving average price is $168.11 and its two-hundred day moving average price is $169.88. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The stock has a market capitalization of $26.41 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 2.86 and a beta of 0.52.

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

Cincinnati Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CINF shares. Roth Capital boosted their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research report on Wednesday, July 15th. Bank of America cut Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Keefe, Bruyette & Woods decreased their price target on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Finally, Piper Sandler boosted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. One investment 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Cincinnati Financial Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.