Harbor Capital Advisors Inc. raised its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF – Free Report) by 4.8% in the 4th quarter, Holdings Channel reports. The fund owned 3,298 shares of the insurance provider’s stock after acquiring an additional 151 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Cincinnati Financial were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its holdings in shares of Cincinnati Financial by 2.1% in the third quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider’s stock valued at $460,000 after purchasing an additional 68 shares during the period. Wealth Dimensions Group Ltd. grew its position in Cincinnati Financial by 0.9% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock valued at $1,098,000 after buying an additional 75 shares during the last quarter. UMB Bank n.a. increased its stake in Cincinnati Financial by 7.4% in the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock valued at $155,000 after buying an additional 79 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cincinnati Financial by 1.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after acquiring an additional 80 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Cincinnati Financial
In related news, Director Dirk J. Debbink acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the transaction, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.83% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
CINF has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.33.
Get Our Latest Stock Analysis on Cincinnati Financial
Cincinnati Financial Trading Up 2.6 %
Shares of Cincinnati Financial stock opened at $139.49 on Wednesday. The company has a 50-day moving average of $149.09 and a two-hundred day moving average of $137.94. The stock has a market cap of $21.80 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 2.89 and a beta of 0.71. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 12-month low of $104.78 and a 12-month high of $161.74.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 earnings per share. On average, research analysts anticipate that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.
Cincinnati Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be given a $0.81 dividend. The ex-dividend date is Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.32%. Cincinnati Financial’s dividend payout ratio is presently 16.65%.
Cincinnati Financial Company Profile
(Free Report)
Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers’ compensation.
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