Concurrent Investment Advisors LLC Takes Position in Cincinnati Financial Co. (NASDAQ:CINF)

Concurrent Investment Advisors LLC bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,678 shares of the insurance provider’s stock, valued at approximately $228,000.

Several other hedge funds have also bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Cincinnati Financial in the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in Cincinnati Financial in the 3rd quarter valued at $27,000. Rothschild Investment LLC acquired a new stake in Cincinnati Financial during the 2nd quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new stake in Cincinnati Financial during the 3rd quarter valued at $29,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Cincinnati Financial by 49.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CINF has been the subject of several research analyst reports. Roth Mkm lifted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Bank of America increased their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Piper Sandler boosted their price target on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $151.17 on Tuesday. Cincinnati Financial Co. has a fifty-two week low of $99.01 and a fifty-two week high of $152.30. The stock has a fifty day moving average price of $138.14 and a 200-day moving average price of $127.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 2.82 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business earned $1.66 earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 6.35 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were issued a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.14%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 16.65%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.