Point72 Asset Management L.P. Buys Shares of 94,000 Cincinnati Financial Co. (NASDAQ:CINF)

Point72 Asset Management L.P. purchased a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the third quarter, Holdings Channel reports. The institutional investor purchased 94,000 shares of the insurance provider’s stock, valued at approximately $12,795,000.

Several other institutional investors have also recently made changes to their positions in CINF. Moisand Fitzgerald Tamayo LLC bought a new position in Cincinnati Financial during the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Cincinnati Financial in the 3rd quarter worth approximately $27,000. Rothschild Investment LLC bought a new position in shares of Cincinnati Financial during the second quarter valued at approximately $29,000. Future Financial Wealth Managment LLC purchased a new position in Cincinnati Financial during the third quarter valued at approximately $29,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in Cincinnati Financial by 49.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 0.7 %

Cincinnati Financial stock opened at $156.03 on Friday. 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 cap of $24.39 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 2.99 and a beta of 0.69. The stock has a 50-day moving average of $145.35 and a two-hundred day moving average of $131.93. Cincinnati Financial Co. has a one year low of $100.31 and a one year high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 earnings per share. On average, research analysts anticipate that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Insider Activity at Cincinnati Financial

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

Wall Street Analysts Forecast Growth

CINF has been the topic of several recent research reports. Piper Sandler increased their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Bank of America boosted their target price 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

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.