SG Americas Securities LLC Buys 14,396 Shares of Cincinnati Financial Corporation $CINF

SG Americas Securities LLC raised its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 139.4% in the third quarter, Holdings Channel reports. The institutional investor owned 24,720 shares of the insurance provider’s stock after buying an additional 14,396 shares during the quarter. SG Americas Securities LLC’s holdings in Cincinnati Financial were worth $3,908,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Cincinnati Financial in the second quarter valued at approximately $235,714,000. Vanguard Group Inc. lifted its stake in Cincinnati Financial by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock worth $2,914,738,000 after purchasing an additional 317,033 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after purchasing an additional 262,715 shares during the period. Amundi boosted its holdings in Cincinnati Financial by 113.6% in the 2nd quarter. Amundi now owns 454,996 shares of the insurance provider’s stock valued at $66,479,000 after purchasing an additional 242,020 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after purchasing an additional 173,343 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average price of $153.98 per share, with a total value of $153,980.00. Following the acquisition, the director owned 58,482 shares in the company, valued at approximately $9,005,058.36. This trade represents a 1.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Roth Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Piper Sandler raised their target price on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research note on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $170.75.

Cincinnati Financial Price Performance

CINF opened at $162.99 on Monday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $25.43 billion, a P/E ratio of 12.13, a PEG ratio of 3.67 and a beta of 0.66. The stock has a 50-day moving average price of $164.27 and a 200-day moving average price of $157.02. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $169.86.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $2.87 billion. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.Cincinnati Financial’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS. Equities analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be paid a $0.87 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.1%. Cincinnati Financial’s dividend payout ratio is 25.89%.

Cincinnati Financial Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.