Jupiter Topco LLC Invests $3.14 Million in Cincinnati Financial Corporation $CINF

Jupiter Topco LLC acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, HoldingsChannel reports. The fund acquired 16,960 shares of the insurance provider’s stock, valued at approximately $3,140,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $270,892,000. GQG Partners LLC purchased a new position in shares of Cincinnati Financial in the second quarter worth about $216,679,000. Legal & General Group Plc purchased a new position in shares of Cincinnati Financial in the second quarter worth about $200,331,000. First Trust Advisors LP raised its position in shares of Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after purchasing an additional 784,584 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of Cincinnati Financial in the second quarter valued at approximately $99,691,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Trading Up 0.8%

Shares of CINF opened at $171.69 on Thursday. The business’s 50-day moving average price is $177.80 and its 200-day moving average price is $168.82. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81. The stock has a market cap of $26.35 billion, a PE ratio of 8.10, a P/E/G ratio of 3.57 and a beta of 0.53. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the previous year, the company posted $1.97 earnings per share. On average, equities analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.2%. Cincinnati Financial’s dividend payout ratio is currently 17.74%.

Insider Transactions at Cincinnati Financial

In other news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was purchased at an average cost of $171.64 per share, with a total value of $171,640.00. Following the acquisition, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.94% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on CINF. Piper Sandler upped their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods reduced their price objective on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Weiss Ratings downgraded Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Finally, Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $195.40.

Cincinnati Financial Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.