Western Wealth Management LLC Invests $1.62 Million in Cincinnati Financial Corporation $CINF

Western Wealth Management LLC purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,258 shares of the insurance provider’s stock, valued at approximately $1,622,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bison Wealth LLC acquired a new position in Cincinnati Financial during the 4th quarter worth approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after buying an additional 525 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after acquiring an additional 173,343 shares in the last quarter. Maryland State Retirement & Pension System increased its position in shares of Cincinnati Financial by 4.6% during the second quarter. Maryland State Retirement & Pension System now owns 7,487 shares of the insurance provider’s stock worth $1,115,000 after acquiring an additional 331 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in shares of Cincinnati Financial by 71.2% in the second quarter. Vontobel Holding Ltd. now owns 3,922 shares of the insurance provider’s stock worth $584,000 after acquiring an additional 1,631 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Roth Mkm reaffirmed a “buy” rating and issued a $175.00 price target on shares of Cincinnati Financial in a report on Tuesday, October 28th. Piper Sandler raised their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.33.

Cincinnati Financial Trading Down 2.3%

Cincinnati Financial stock opened at $168.70 on Tuesday. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $174.27. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $26.32 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 3.89 and a beta of 0.66. The firm has a 50-day moving average price of $163.62 and a two-hundred day moving average price of $159.18.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the company earned $3.14 EPS. Cincinnati Financial’s revenue was up 21.8% on a year-over-year basis. Sell-side analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be issued a dividend of $0.94 per share. The ex-dividend date is Tuesday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial’s payout ratio is 25.89%.

Cincinnati Financial Company 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.