Burns Matteson Capital Management LLC Makes New Investment in Cincinnati Financial Corporation $CINF

Burns Matteson Capital Management LLC purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the third quarter, Holdings Channel.com reports. The fund purchased 3,054 shares of the insurance provider’s stock, valued at approximately $487,000.

Several other institutional investors have also recently bought and sold shares of CINF. State Street Corp boosted its stake in Cincinnati Financial by 225.5% in the second quarter. State Street Corp now owns 26,974,052 shares of the insurance provider’s stock worth $4,993,976,000 after purchasing an additional 18,686,673 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Cincinnati Financial by 1,474.8% during the second quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock worth $415,267,000 after purchasing an additional 2,100,563 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Cincinnati Financial during the second quarter worth $347,891,000. Assenagon Asset Management S.A. acquired a new stake in shares of Cincinnati Financial in the third quarter valued at $248,705,000. Finally, GQG Partners LLC acquired a new stake in shares of Cincinnati Financial in the second quarter valued at $216,679,000. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

CINF stock opened at $171.25 on Friday. The company has a 50 day moving average price of $168.21 and a 200 day moving average price of $169.60. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $26.28 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 2.89 and a beta of 0.52.

Cincinnati Financial (NASDAQ:CINF) last announced 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 during the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter in the previous year, the business posted $1.97 earnings per share. Analysts forecast that Cincinnati Financial Corporation will post 8.44 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders 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 dividend yield of 2.2%. Cincinnati Financial’s payout ratio is presently 17.74%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their price target on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 12th. 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 report on Wednesday, July 15th. Roth Capital increased their price objective 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. Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.60.

Insider Activity

In other news, Director Dirk Debbink purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the purchase, the director directly owned 62,059 shares of the company’s stock, valued at $10,651,806.76. The trade was a 1.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.94% of the stock is owned by company insiders.

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.