Manning & Napier Advisors LLC Purchases Shares of 19,255 Cincinnati Financial Corporation $CINF

Manning & Napier Advisors LLC acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 19,255 shares of the insurance provider’s stock, valued at approximately $3,585,000.

Several other hedge funds have also modified their holdings of the company. BIP Wealth LLC raised its stake in Cincinnati Financial by 1.6% during the second quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock valued at $720,000 after purchasing an additional 63 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Cincinnati Financial by 0.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock worth $2,616,000 after buying an additional 68 shares in the last quarter. McAdam LLC increased its holdings in shares of Cincinnati Financial by 2.6% in the 2nd quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock worth $512,000 after buying an additional 70 shares during the last quarter. Triton Financial Group Inc raised its position in shares of Cincinnati Financial by 0.7% during the 4th quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider’s stock valued at $1,718,000 after buying an additional 73 shares in the last quarter. Finally, Essex Financial Services Inc. lifted its holdings in shares of Cincinnati Financial by 3.5% in the 4th quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider’s stock valued at $374,000 after acquiring an additional 77 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CINF shares. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their price target on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. Piper Sandler boosted their price objective 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 lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Finally, Roth Capital upped their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.40.

Cincinnati Financial Stock Performance

CINF stock opened at $171.21 on Tuesday. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81. The firm has a market cap of $26.28 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 3.52 and a beta of 0.54. The business’s fifty day simple moving average is $178.00 and its two-hundred day simple moving average is $168.63. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05.

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 analysts’ consensus estimates of $1.82 by ($0.39). The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations 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 firm posted $1.97 earnings per share. Analysts predict that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

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