Turtle Creek Wealth Advisors LLC Buys 3,718 Shares of Cincinnati Financial Corporation $CINF

Turtle Creek Wealth Advisors LLC purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the third quarter, according to its most recent filing with the SEC. The firm purchased 3,718 shares of the insurance provider’s stock, valued at approximately $593,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. WealthPlan Investment Management LLC raised its holdings in Cincinnati Financial by 616.5% in the third quarter. WealthPlan Investment Management LLC now owns 14,537 shares of the insurance provider’s stock worth $2,317,000 after purchasing an additional 12,508 shares in the last quarter. Nvwm LLC boosted its holdings in shares of Cincinnati Financial by 660,000.0% in the 3rd quarter. Nvwm LLC now owns 6,601 shares of the insurance provider’s stock valued at $1,052,000 after buying an additional 6,600 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Cincinnati Financial by 4.6% in the 3rd quarter. Mather Group LLC. now owns 103,874 shares of the insurance provider’s stock valued at $16,947,000 after buying an additional 4,580 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Cincinnati Financial by 356.5% in the 3rd quarter. Fortitude Family Office LLC now owns 566 shares of the insurance provider’s stock valued at $90,000 after buying an additional 442 shares in the last quarter. Finally, Godsey & Gibb Inc. purchased a new position in shares of Cincinnati Financial in the 3rd quarter worth approximately $19,013,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Dirk Debbink purchased 1,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were acquired at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the purchase, the director owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.94% of the company’s stock.

Wall Street Analysts Forecast Growth

CINF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday. Piper Sandler increased their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a report on Wednesday, July 15th. Finally, Roth Capital lifted 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. One equities research 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 company’s stock. According to MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Cincinnati Financial Trading Up 0.3%

NASDAQ:CINF opened at $167.22 on Friday. The company has a market capitalization of $25.66 billion, a P/E ratio of 7.89, a PEG ratio of 2.81 and a beta of 0.52. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. The firm has a fifty day simple moving average of $168.33 and a 200-day simple moving average of $169.59.

Cincinnati Financial (NASDAQ:CINF) last released 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 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 previous year, the company earned $1.97 earnings per share. On average, equities research analysts anticipate that Cincinnati Financial Corporation will post 8.44 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

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

About Cincinnati Financial

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.