Octavia Wealth Advisors LLC Purchases 7,032 Shares of Cincinnati Financial Corporation $CINF

Octavia Wealth Advisors LLC boosted its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 116.3% during the third quarter, HoldingsChannel reports. The fund owned 13,080 shares of the insurance provider’s stock after buying an additional 7,032 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Cincinnati Financial were worth $2,079,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 valued at $2,914,738,000 after purchasing an additional 317,033 shares during the period. Charles Schwab Investment Management Inc. raised its holdings 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 acquiring an additional 106,266 shares during the period. Bank of America Corp DE lifted its position in shares of Cincinnati Financial by 4.2% during the second quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock worth $299,553,000 after acquiring an additional 80,487 shares in the last quarter. Norges Bank bought a new position in shares of Cincinnati Financial in the second quarter worth $235,714,000. Finally, Boston Trust Walden Corp boosted its stake in Cincinnati Financial by 3.6% in the 2nd quarter. Boston Trust Walden Corp now owns 833,789 shares of the insurance provider’s stock worth $124,168,000 after purchasing an additional 29,012 shares during the period. Institutional investors own 65.24% of the company’s stock.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were acquired at an average price of $153.98 per share, for a total transaction of $153,980.00. Following the purchase, the director directly owned 58,482 shares in the company, valued at $9,005,058.36. This trade represents a 1.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.83% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $163.68 on Thursday. The company has a market capitalization of $25.54 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 3.63 and a beta of 0.66. 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 company’s 50-day moving average is $164.61 and its 200 day moving average is $157.29. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $169.86.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, December 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is 25.89%.

Analyst Ratings Changes

A number of research analysts have recently commented on CINF shares. Roth Capital restated a “buy” rating and set a $175.00 price target on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Piper Sandler upped their target price on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $170.75.

About Cincinnati Financial

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.