BlackDiamond Wealth Management LLC Invests $639,000 in Cincinnati Financial Corporation $CINF

BlackDiamond Wealth Management LLC bought a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,790 shares of the insurance provider’s stock, valued at approximately $639,000.

A number of other large investors have also recently bought and sold shares of the company. Bison Wealth LLC purchased a new stake in Cincinnati Financial in the 4th quarter worth approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 purchasing an additional 525 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after purchasing an additional 173,343 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Cincinnati Financial in the 2nd quarter worth approximately $101,000. Finally, Cerity Partners LLC boosted its position in Cincinnati Financial by 10.8% in the 2nd quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after purchasing an additional 4,674 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 27th. Bank of America reduced their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Roth Mkm upped their target price on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Wall Street Zen downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Piper Sandler upped their target price on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $183.25.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $158.01 on Thursday. The stock has a market cap of $24.44 billion, a PE ratio of 9.03, a P/E/G ratio of 3.43 and a beta of 0.57. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a twelve month low of $143.37 and a twelve month high of $174.27. The stock has a fifty day simple moving average of $162.52 and a 200-day simple moving average of $163.41.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the business posted ($0.24) EPS. Cincinnati Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts anticipate that Cincinnati Financial Corporation will post 8.61 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 21.50%.

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.