Cincinnati Financial Corporation $CINF Shares Purchased by Wedmont Private Capital

Wedmont Private Capital grew its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 494.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,847 shares of the insurance provider’s stock after purchasing an additional 12,350 shares during the quarter. Wedmont Private Capital’s holdings in Cincinnati Financial were worth $2,366,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Keating Financial Advisory Services Inc. bought a new position in Cincinnati Financial in the 2nd quarter worth approximately $27,000. Covestor Ltd boosted its holdings in Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 83 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in Cincinnati Financial in the 1st quarter worth $34,000. Elevation Wealth Partners LLC raised its position in shares of Cincinnati Financial by 230.8% during the third quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. Finally, Davis Capital Management lifted its stake in shares of Cincinnati Financial by 7,433.3% in the third quarter. Davis Capital Management now owns 226 shares of the insurance provider’s stock valued at $36,000 after buying an additional 223 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Dirk Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the transaction, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.94% of the stock is owned by corporate insiders.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $163.39 on Friday. The stock has a market capitalization of $25.08 billion, a price-to-earnings ratio of 7.71, a P/E/G ratio of 2.82 and a beta of 0.52. The firm’s 50-day moving average price is $169.31 and its two-hundred day moving average price is $169.24. 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 1-year low of $150.00 and a 1-year high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the firm earned $1.97 earnings per share. On average, equities analysts predict that Cincinnati Financial Corporation will post 8.35 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is 17.74%.

Cincinnati Financial Company Profile

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.