Anchor Investment Management LLC Increases Position in Cincinnati Financial Co. (NASDAQ:CINF)

Anchor Investment Management LLC increased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1,219.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 686 shares of the insurance provider’s stock after buying an additional 634 shares during the period. Anchor Investment Management LLC’s holdings in Cincinnati Financial were worth $93,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. bought a new stake in Cincinnati Financial in the second quarter worth about $278,000. Assenagon Asset Management S.A. lifted its stake 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 valued at $14,016,000 after purchasing an additional 56,686 shares during the last quarter. Brookstone Capital Management bought a new position in Cincinnati Financial during the second quarter valued at $252,000. Raymond James & Associates increased its position in Cincinnati Financial by 4.6% in the second quarter. Raymond James & Associates now owns 51,020 shares of the insurance provider’s stock worth $6,025,000 after buying an additional 2,238 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Cincinnati Financial by 55.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 7,080 shares of the insurance provider’s stock valued at $836,000 after buying an additional 2,522 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the transaction, the director now directly owns 54,500 shares in the company, valued at $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.83% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of CINF opened at $152.22 on Friday. Cincinnati Financial Co. has a 52-week low of $100.31 and a 52-week high of $161.74. The stock’s 50-day simple moving average is $147.25 and its 200 day simple moving average is $133.49. 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 stock has a market capitalization of $23.80 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF) last announced 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 during 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 period in the previous year, the company posted $1.66 earnings per share. Research analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. The ex-dividend date is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.13%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 16.65%.

Analyst Ratings Changes

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

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.