iSAM Funds UK Ltd Makes New $2.21 Million Investment in Cincinnati Financial Corporation $CINF

by · The Markets Daily

iSAM Funds UK Ltd bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,821 shares of the insurance provider’s stock, valued at approximately $2,207,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Cincinnati Financial by 1.6% in the second quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock worth $2,914,738,000 after acquiring an additional 317,033 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Cincinnati Financial by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,470,538 shares of the insurance provider’s stock valued at $963,594,000 after purchasing an additional 106,266 shares during the last quarter. Invesco Ltd. increased its stake in Cincinnati Financial by 2.2% during the 1st quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider’s stock valued at $273,062,000 after purchasing an additional 40,222 shares in the last quarter. GQG Partners LLC purchased a new position in Cincinnati Financial in the first quarter worth about $270,005,000. Finally, Norges Bank purchased a new position in Cincinnati Financial in the second quarter worth about $235,714,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was bought at an average price of $153.98 per share, for a total transaction of $153,980.00. Following the completion of the transaction, the director owned 58,482 shares in the company, valued at approximately $9,005,058.36. The trade was a 1.74% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CINF shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $177.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Finally, Roth Capital reaffirmed a “buy” rating and set a $175.00 price target on shares of Cincinnati Financial in a report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $171.67.

Read Our Latest Report on Cincinnati Financial

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $161.30 on Tuesday. The company has a market cap of $25.17 billion, a P/E ratio of 12.00, a P/E/G ratio of 4.26 and a beta of 0.69. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $169.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.30 and a current ratio of 0.30. The firm’s fifty day moving average is $160.93 and its two-hundred day moving average is $154.16.

Cincinnati Financial (NASDAQ:CINF – Get Free Report) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, beating the consensus estimate of $2.01 by $0.84. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 EPS. As a group, analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 22nd will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial’s dividend payout ratio is presently 25.89%.

About Cincinnati Financial

(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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