Biltmore Family Office LLC Buys New Shares in Cincinnati Financial Co. (NASDAQ:CINF)

Biltmore Family Office LLC bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,510 shares of the insurance provider’s stock, valued at approximately $207,000.

Several other hedge funds have also made changes to their positions in CINF. Vest Financial LLC raised its position in Cincinnati Financial by 14.0% in the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after purchasing an additional 46,530 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Cincinnati Financial by 91.4% in the second quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock worth $14,016,000 after purchasing an additional 56,686 shares in the last quarter. Advisors Asset Management Inc. raised its position in Cincinnati Financial by 165.4% in the first quarter. Advisors Asset Management Inc. now owns 7,792 shares of the insurance provider’s stock worth $968,000 after purchasing an additional 4,856 shares in the last quarter. Amalgamated Bank raised its position in Cincinnati Financial by 30.5% in the second quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock worth $4,976,000 after purchasing an additional 9,854 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Cincinnati Financial by 10.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock worth $15,923,000 after purchasing an additional 11,282 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

CINF has been the subject of several recent research reports. Piper Sandler increased 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. Bank of America raised their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Roth Mkm raised 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $156.47 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $24.46 billion, a P/E ratio of 8.04, a P/E/G ratio of 2.87 and a beta of 0.65. The firm has a 50 day simple moving average of $141.26 and a 200 day simple moving average of $129.41. Cincinnati Financial Co. has a fifty-two week low of $99.92 and a fifty-two week high of $156.87.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share 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 company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business earned $1.66 EPS. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. Sell-side analysts predict 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. Shareholders of record on Thursday, December 19th will be paid a $0.81 dividend. The ex-dividend date is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.07%. Cincinnati Financial’s payout ratio is presently 16.65%.

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.