Man Group plc Purchases New Position in Cincinnati Financial Corporation $CINF

Man Group plc acquired a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,606 shares of the insurance provider’s stock, valued at approximately $4,000,000.

A number of other institutional investors have also recently bought and sold shares of CINF. Keating Financial Advisory Services Inc. bought a new position in shares of Cincinnati Financial during the second quarter worth $27,000. Motiv8 Investments LLC bought a new stake in shares of Cincinnati Financial in the 4th quarter valued at $29,000. Covestor Ltd increased its position in shares of Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after buying an additional 83 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Cincinnati Financial during the 1st quarter worth $34,000. Finally, DV Equities LLC acquired a new stake in Cincinnati Financial during the 4th quarter worth $36,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CINF. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Roth Capital raised their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a report on Wednesday, July 15th. Piper Sandler boosted their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods lowered their target price on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. One equities research 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 stock. Based on data from MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus price target of $195.40.

Insider Activity

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were bought at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.94% of the stock is owned by company insiders.

Cincinnati Financial Price Performance

CINF stock opened at $171.97 on Monday. 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 stock has a market capitalization of $26.39 billion, a P/E ratio of 8.11, a P/E/G ratio of 3.60 and a beta of 0.54. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The business has a 50-day moving average of $178.09 and a 200-day moving average of $168.68.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results 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). The firm had revenue of $4.27 billion during 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 in the prior year, the business posted $1.97 EPS. On average, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

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

Cincinnati Financial 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.