Saudi Central Bank Has $2.02 Million Holdings in Cincinnati Financial Corporation $CINF

Saudi Central Bank increased its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 89.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,898 shares of the insurance provider’s stock after acquiring an additional 5,139 shares during the quarter. Saudi Central Bank’s holdings in Cincinnati Financial were worth $2,018,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CINF. Keating Financial Advisory Services Inc. bought a new stake in Cincinnati Financial during the 2nd quarter valued at approximately $27,000. Covestor Ltd increased its position in Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after buying an additional 83 shares during the period. Motiv8 Investments LLC acquired a new position in shares of Cincinnati Financial during the fourth quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Cincinnati Financial in the first quarter valued at approximately $34,000. Finally, DV Equities LLC acquired a new stake in shares of Cincinnati Financial in the fourth quarter worth $36,000. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $197.00 to $193.00 in a report on Thursday, July 30th. Piper Sandler raised their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Finally, Roth Capital upped their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.40.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $171.10 on Tuesday. The firm has a market capitalization of $26.26 billion, a P/E ratio of 8.07, a P/E/G ratio of 3.58 and a beta of 0.53. The stock has a fifty day moving average price of $177.17 and a two-hundred day moving average price of $169.00. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the prior year, the firm posted $1.97 EPS. As a group, analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

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

Insider Buying and Selling

In other news, Director Dirk Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, August 25th. The shares were purchased at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the transaction, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.94% of the stock is currently owned by company insiders.

Cincinnati Financial Company 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.