GAMMA Investing LLC Increases Stake in Cincinnati Financial Co. (NASDAQ:CINF)

GAMMA Investing LLC boosted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 35.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 907 shares of the insurance provider’s stock after purchasing an additional 238 shares during the quarter. GAMMA Investing LLC’s holdings in Cincinnati Financial were worth $113,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UBS Group AG boosted its holdings in shares of Cincinnati Financial by 15.4% during the 4th quarter. UBS Group AG now owns 349,153 shares of the insurance provider’s stock valued at $36,123,000 after acquiring an additional 46,595 shares during the last quarter. United Advisor Group LLC purchased a new position in shares of Cincinnati Financial in the fourth quarter worth approximately $888,000. Norges Bank purchased a new position in shares of Cincinnati Financial in the fourth quarter worth approximately $179,305,000. Teacher Retirement System of Texas boosted its holdings in shares of Cincinnati Financial by 61.5% in the fourth quarter. Teacher Retirement System of Texas now owns 160,543 shares of the insurance provider’s stock worth $16,610,000 after buying an additional 61,136 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Cincinnati Financial in the fourth quarter worth approximately $21,036,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Citigroup raised their price objective on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $125.00 to $135.00 in a report on Monday, March 25th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $126.00.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $115.21 on Friday. Cincinnati Financial Co. has a 1-year low of $95.01 and a 1-year high of $124.35. The firm’s 50 day simple moving average is $116.56 and its two-hundred day simple moving average is $113.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market capitalization of $18.04 billion, a P/E ratio of 7.67, a P/E/G ratio of 2.47 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. Research analysts expect that Cincinnati Financial Co. will post 6.35 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction dated Monday, April 29th. The shares were purchased at an average price of $113.47 per share, with a total value of $113,470.00. Following the completion of the acquisition, the director now owns 53,988 shares of the company’s stock, valued at $6,126,018.36. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.83% of the company’s stock.

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.