Claro Advisors LLC Acquires Shares of 1,757 Cincinnati Financial Co. (NASDAQ:CINF)

Claro Advisors LLC bought a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,757 shares of the insurance provider’s stock, valued at approximately $239,000.

Several other institutional investors have also modified their holdings of CINF. UniSuper Management Pty Ltd increased its holdings in Cincinnati Financial by 456.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,717 shares of the insurance provider’s stock worth $1,207,000 after purchasing an additional 7,971 shares during the last quarter. Bessemer Group Inc. boosted its position in Cincinnati Financial by 57.9% during the 1st quarter. Bessemer Group Inc. now owns 1,342 shares of the insurance provider’s stock valued at $167,000 after purchasing an additional 492 shares during the period. InterOcean Capital Group LLC increased its position in Cincinnati Financial by 15.4% in the first quarter. InterOcean Capital Group LLC now owns 5,201 shares of the insurance provider’s stock worth $646,000 after buying an additional 696 shares during the period. EntryPoint Capital LLC lifted its stake in Cincinnati Financial by 87.8% in the first quarter. EntryPoint Capital LLC now owns 708 shares of the insurance provider’s stock valued at $88,000 after buying an additional 331 shares during the last quarter. Finally, Delap Wealth Advisory LLC acquired a new position in shares of Cincinnati Financial during the first quarter valued at $316,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $150.58 on Wednesday. Cincinnati Financial Co. has a 52-week low of $99.61 and a 52-week high of $152.85. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 2.89 and a beta of 0.65. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $140.10 and its 200 day simple moving average is $128.80.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $2.24 billion. During the same quarter last year, the company posted $1.66 EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Cincinnati Financial Co. will post 6.32 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Roth Mkm upped their price objective 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. Piper Sandler boosted their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Bank of America increased their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial 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.