Integrated Wealth Concepts LLC Has $9.04 Million Stock Position in Cincinnati Financial Corporation $CINF

Integrated Wealth Concepts LLC lifted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 97.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 48,808 shares of the insurance provider’s stock after purchasing an additional 24,107 shares during the period. Integrated Wealth Concepts LLC’s holdings in Cincinnati Financial were worth $9,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Keating Financial Advisory Services Inc. acquired a new position in Cincinnati Financial during the 2nd quarter valued at about $27,000. Motiv8 Investments LLC bought a new stake in Cincinnati Financial during the 4th quarter worth approximately $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 stake in shares of Cincinnati Financial in the first quarter worth approximately $34,000. Finally, DV Equities LLC bought a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $169.59 on Friday. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81. The stock’s 50 day moving average price is $176.05 and its 200-day moving average price is $169.13. The company has a market capitalization of $26.03 billion, a PE ratio of 8.00, a PEG ratio of 3.54 and a beta of 0.53. 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 (NASDAQ:CINF) last issued its quarterly earnings results 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 business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period in the previous year, the business posted $1.97 earnings per share. On average, equities analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CINF. Bank of America cut Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. Piper Sandler raised their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Roth Capital raised their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Finally, Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. One 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.40.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average cost of $171.64 per share, with a total value of $171,640.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.94% of the stock is owned by company insiders.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers’ compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.