Cincinnati Financial Corporation $CINF Stock: Cyndeo Wealth Partners LLC Grows Holdings

Cyndeo Wealth Partners LLC lifted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 1,823.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,462 shares of the insurance provider’s stock after acquiring an additional 34,566 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Cincinnati Financial were worth $5,811,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CINF. State Street Corp raised its stake in Cincinnati Financial by 225.5% in the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider’s stock worth $4,993,976,000 after purchasing an additional 18,686,673 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Cincinnati Financial by 1,474.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock worth $415,267,000 after purchasing an additional 2,100,563 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Cincinnati Financial during the 2nd quarter worth approximately $347,891,000. Assenagon Asset Management S.A. acquired a new position in shares of Cincinnati Financial during the 3rd quarter worth approximately $248,705,000. Finally, GQG Partners LLC bought a new position in shares of Cincinnati Financial during the second quarter worth approximately $216,679,000. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Trading Up 2.4%

Shares of Cincinnati Financial stock opened at $171.25 on Friday. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 2.82 and a beta of 0.52. 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 12-month low of $150.00 and a 12-month high of $194.81. The firm’s 50-day moving average price is $168.21 and its two-hundred day moving average price is $169.60.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share 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 for the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the company posted $1.97 EPS. On average, analysts forecast that Cincinnati Financial Corporation will post 8.44 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were given a dividend of $0.94 per share. The ex-dividend date was Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial’s payout ratio is currently 17.74%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research report on Wednesday, July 15th. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. 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 note on Tuesday, July 28th. Finally, Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.60.

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.