Park Avenue Securities LLC Boosts Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Park Avenue Securities LLC boosted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 0.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,473 shares of the insurance provider’s stock after acquiring an additional 78 shares during the quarter. Park Avenue Securities LLC’s holdings in Cincinnati Financial were worth $2,511,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Cincinnati Financial during the third quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in Cincinnati Financial during the 3rd quarter worth $28,000. Catalyst Capital Advisors LLC purchased a new stake in Cincinnati Financial during the 3rd quarter worth about $27,000. Future Financial Wealth Managment LLC acquired a new stake in Cincinnati Financial in the 3rd quarter valued at about $29,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Cincinnati Financial by 49.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after buying an additional 80 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $140.66 on Friday. The company has a fifty day moving average of $148.67 and a two-hundred day moving average of $138.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Co. has a 1 year low of $104.78 and a 1 year high of $161.74. The company has a market capitalization of $21.99 billion, a PE ratio of 7.23, a P/E/G ratio of 2.25 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results 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). The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.66 EPS. As a group, analysts expect that Cincinnati Financial Co. will post 6.3 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, December 19th were paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, December 19th. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CINF shares. Piper Sandler raised their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Bank of America raised their price target on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the purchase, the director now owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.83% of the stock is currently owned by insiders.

About Cincinnati Financial

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.