Saudi Central Bank Increases Stock Position in Cincinnati Financial Corporation $CINF

Saudi Central Bank lifted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 89.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,898 shares of the insurance provider’s stock after purchasing an additional 5,139 shares during the period. Saudi Central Bank’s holdings in Cincinnati Financial were worth $2,018,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BIP Wealth LLC increased its stake in Cincinnati Financial by 1.6% in the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock worth $720,000 after purchasing an additional 63 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Cincinnati Financial by 2.1% in the second quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider’s stock worth $577,000 after buying an additional 64 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Cincinnati Financial by 0.5% in the second 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 during the period. McAdam LLC increased its position in shares of Cincinnati Financial by 2.6% in the second quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock worth $512,000 after acquiring an additional 70 shares in the last quarter. Finally, HUB Investment Partners LLC raised its holdings in shares of Cincinnati Financial by 3.9% during the second quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 77 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk Debbink purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was bought 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. The trade was a 1.64% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.94% of the stock is owned by corporate insiders.

Cincinnati Financial Stock Performance

CINF stock opened at $171.10 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $26.26 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 3.58 and a beta of 0.53. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. The firm has a 50 day moving average of $177.17 and a two-hundred day moving average of $169.00.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the company earned $1.97 EPS. As a group, equities analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s payout ratio is currently 17.74%.

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their target price 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. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a report on Wednesday, July 15th. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Finally, Roth Capital increased their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research note 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 a consensus target price of $195.40.

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.