4,921 Shares in Cincinnati Financial Corporation $CINF Acquired by Denali Advisors LLC

Denali Advisors LLC acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) in the third quarter, Holdings Channel.com reports. The fund acquired 4,921 shares of the insurance provider’s stock, valued at approximately $778,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Strs Ohio boosted its position in Cincinnati Financial by 322.9% in the third quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after buying an additional 71,378 shares in the last quarter. Cibc World Market Inc. bought a new stake in shares of Cincinnati Financial in the 3rd quarter valued at about $2,511,000. AE Wealth Management LLC boosted its holdings in Cincinnati Financial by 1,102.8% in the third quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock valued at $8,063,000 after acquiring an additional 46,757 shares during the last quarter. Western Wealth Management LLC acquired a new stake in shares of Cincinnati Financial during the third quarter worth $1,622,000. Finally, Narwhal Capital Management grew its holdings in Cincinnati Financial by 62.4% during the 3rd quarter. Narwhal Capital Management now owns 44,966 shares of the insurance provider’s stock worth $7,109,000 after acquiring an additional 17,276 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 1.4%

NASDAQ CINF opened at $162.77 on Tuesday. The stock’s 50-day simple moving average is $163.70 and its two-hundred day simple moving average is $159.68. The company has a market capitalization of $25.40 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 3.65 and a beta of 0.66. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $174.27. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business posted $3.14 earnings per share. The company’s revenue was up 21.8% on a year-over-year basis. Research analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be issued a dividend of $0.94 per share. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 22.94%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CINF shares. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Roth Mkm restated a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Piper Sandler boosted their price target 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. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.33.

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.