USA Financial Formulas Acquires 3,359 Shares of Cincinnati Financial Corporation $CINF

USA Financial Formulas bought a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,359 shares of the insurance provider’s stock, valued at approximately $535,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Keating Financial Advisory Services Inc. bought a new stake in Cincinnati Financial during the second quarter valued at $27,000. Covestor Ltd lifted its stake in shares of 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 position in shares of Cincinnati Financial in the 1st quarter valued at about $34,000. Elevation Wealth Partners LLC boosted its position in shares of Cincinnati Financial by 230.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. Finally, Davis Capital Management boosted its position in shares of Cincinnati Financial by 7,433.3% during the 3rd quarter. Davis Capital Management now owns 226 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CINF shares. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their price objective on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 12th. Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Finally, Roth Capital increased their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.60.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk Debbink bought 1,000 shares of the business’s stock in a transaction that occurred on 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 completion of 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 legal filing with the SEC, which can be accessed through this link. 2.94% of the stock is owned by corporate insiders.

Cincinnati Financial Trading Up 2.4%

CINF opened at $171.25 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The firm has a market capitalization of $26.28 billion, a PE ratio of 8.08, a P/E/G ratio of 2.89 and a beta of 0.52. The company’s 50-day moving average is $168.21 and its 200 day moving average is $169.60.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). The business 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 period in the previous year, the business posted $1.97 EPS. As a group, research analysts predict that Cincinnati Financial Corporation will post 8.44 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

Cincinnati Financial 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.