NewEdge Wealth LLC Takes $2.75 Million Position in Cincinnati Financial Corporation $CINF

NewEdge Wealth LLC bought a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,835 shares of the insurance provider’s stock, valued at approximately $2,747,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Motiv8 Investments LLC purchased a new stake in Cincinnati Financial during the 4th quarter valued at about $29,000. Covestor Ltd raised its stake in shares of Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Cincinnati Financial in the first quarter worth about $34,000. DV Equities LLC acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth about $36,000. Finally, Legacy Wealth Managment LLC ID boosted its position in Cincinnati Financial by 78.8% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock valued at $40,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 0.2%

Cincinnati Financial stock opened at $168.19 on Friday. The company has a current ratio of 0.31, a quick 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 stock’s 50 day simple moving average is $177.98 and its two-hundred day simple moving average is $168.54. The firm has a market cap of $25.81 billion, a PE ratio of 7.93, a P/E/G ratio of 3.53 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same period in the previous year, the business earned $1.97 EPS. Analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

CINF has been the topic of several research reports. Keefe, Bruyette & Woods cut their price target on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a report on Wednesday, August 5th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Piper Sandler increased their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Roth Capital raised their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.40.

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.