Cincinnati Financial Corporation $CINF Shares Purchased by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC raised its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 616.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,537 shares of the insurance provider’s stock after acquiring an additional 12,508 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Cincinnati Financial were worth $2,317,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BIP Wealth LLC increased its position in shares of Cincinnati Financial by 1.6% during the second quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock worth $720,000 after buying an additional 63 shares during the period. Concurrent Investment Advisors LLC grew its stake in Cincinnati Financial by 2.1% during the second quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider’s stock worth $577,000 after purchasing an additional 64 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Cincinnati Financial by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock valued at $2,616,000 after acquiring an additional 68 shares during the period. McAdam LLC boosted its stake in Cincinnati Financial by 2.6% during 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, William B. Walkup & Associates Inc. grew its holdings in Cincinnati Financial by 2.9% in the first quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider’s stock worth $428,000 after purchasing an additional 82 shares during the period. Institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

CINF has been the topic of several research reports. Piper Sandler upped their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods reduced their target price on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday. Roth Capital boosted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Finally, Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average target price of $191.60.

Cincinnati Financial Stock Up 0.1%

Shares of Cincinnati Financial stock traded up $0.10 on Thursday, hitting $166.77. The company had a trading volume of 220,650 shares, compared to its average volume of 730,174. The stock has a market capitalization of $25.60 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 2.79 and a beta of 0.52. Cincinnati Financial Corporation has a 1 year low of $150.00 and a 1 year high of $194.81. The stock has a 50 day moving average of $168.56 and a 200-day moving average of $169.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter last year, the business posted $1.97 earnings per share. As a group, sell-side analysts forecast that Cincinnati Financial Corporation will post 8.44 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is 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.