Man Group plc Makes New $4 Million Investment in Cincinnati Financial Corporation $CINF

Man Group plc acquired a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,606 shares of the insurance provider’s stock, valued at approximately $4,000,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CINF. Keating Financial Advisory Services Inc. acquired a new position in Cincinnati Financial in the second quarter valued at about $27,000. 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 valued at $31,000 after acquiring an additional 83 shares during the last quarter. Motiv8 Investments LLC bought a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $29,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter worth approximately $34,000. Finally, DV Equities LLC acquired a new position in shares of Cincinnati Financial in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the purchase, the director directly owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 2.94% of the stock is currently owned by company insiders.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $171.97 on Monday. Cincinnati Financial Corporation has a 1 year low of $150.00 and a 1 year high of $194.81. The firm’s 50-day moving average is $178.09 and its 200-day moving average is $168.68. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $26.39 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 3.60 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last posted 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 business 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 firm earned $1.97 earnings per share. Equities analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CINF. Roth Capital raised their price target on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Keefe, Bruyette & Woods decreased 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. Piper Sandler raised their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Cincinnati Financial presently has an average 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.