37,176 Cincinnati Financial Corporation $CINF Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 245.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,333 shares of the insurance provider’s stock after buying an additional 37,176 shares during the period. State of Alaska Department of Revenue’s holdings in Cincinnati Financial were worth $8,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CINF. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Cincinnati Financial in the third quarter valued at about $593,000. WealthPlan Investment Management LLC raised its position in shares of Cincinnati Financial by 616.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 14,537 shares of the insurance provider’s stock worth $2,317,000 after purchasing an additional 12,508 shares during the last quarter. Nvwm LLC raised its position in shares of Cincinnati Financial by 660,000.0% during the 3rd quarter. Nvwm LLC now owns 6,601 shares of the insurance provider’s stock worth $1,052,000 after purchasing an additional 6,600 shares during the last quarter. Mather Group LLC. raised its position in shares of Cincinnati Financial by 4.6% during the 3rd quarter. Mather Group LLC. now owns 103,874 shares of the insurance provider’s stock worth $16,947,000 after purchasing an additional 4,580 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in Cincinnati Financial by 356.5% in the 3rd quarter. Fortitude Family Office LLC now owns 566 shares of the insurance provider’s stock valued at $90,000 after buying an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 0.3%

Shares of CINF opened at $167.22 on Friday. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average is $168.33 and its two-hundred day moving average is $169.59. The stock has a market cap of $25.66 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 2.81 and a beta of 0.52.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (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 return on equity of 9.63% and a net margin of 23.84%. During the same period in the previous year, the company earned $1.97 EPS. Research analysts forecast that Cincinnati Financial Corporation will post 8.44 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared 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 presently 17.74%.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk Debbink acquired 1,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. The trade was a 1.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.94% of the company’s stock.

Analyst Ratings Changes

CINF has been the topic of several research analyst reports. Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Keefe, Bruyette & Woods reduced their target price on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a report on Monday. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Roth Capital raised their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.