Empowered Funds LLC Buys Shares of 34,850 Cincinnati Financial Corporation $CINF

Empowered Funds LLC purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, Holdings Channel reports. The fund purchased 34,850 shares of the insurance provider’s stock, valued at approximately $6,452,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CINF. Geode Capital Management LLC raised its stake in shares of Cincinnati Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after acquiring an additional 25,888 shares during the last quarter. GQG Partners LLC bought a new stake in shares of Cincinnati Financial in the second quarter worth $216,679,000. Manning & Napier Advisors LLC bought a new stake in shares of Cincinnati Financial in the second quarter worth $3,585,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Cincinnati Financial in the first quarter valued at $12,002,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in Cincinnati Financial during the 4th quarter worth $1,231,000. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Piper Sandler lifted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Roth Capital raised their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Finally, Keefe, Bruyette & Woods reduced their target price on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a report on Wednesday, August 5th. 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $195.40.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $171.97 on Monday. 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 Corporation has a 52 week low of $150.00 and a 52 week high of $194.81. The business has a 50 day moving average price of $178.09 and a 200-day moving average price of $168.68. The company has a market cap of $26.39 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 3.60 and a beta of 0.55.

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). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the business earned $1.97 earnings per share. As a group, equities analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be issued a dividend of $0.94 per share. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.2%. Cincinnati Financial’s dividend payout ratio is presently 17.74%.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were purchased at an average cost of $171.64 per share, with a total value of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.94% of the company’s stock.

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.