NEOS Investment Management LLC Buys 3,200 Shares of Cincinnati Financial Corporation $CINF

NEOS Investment Management LLC grew its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 14.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,314 shares of the insurance provider’s stock after acquiring an additional 3,200 shares during the quarter. NEOS Investment Management LLC’s holdings in Cincinnati Financial were worth $4,687,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Cincinnati Financial by 0.3% in the third quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock worth $1,357,825,000 after purchasing an additional 26,475 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cincinnati Financial by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock valued at $1,083,151,000 after buying an additional 97,761 shares during the last quarter. Geode Capital Management LLC raised its stake in Cincinnati Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after buying an additional 25,888 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Cincinnati Financial by 59.4% during the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after buying an additional 784,584 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Cincinnati Financial by 4.2% during the 2nd quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock valued at $299,553,000 after buying an additional 80,487 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $171.10 on Monday. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81. The business has a fifty day moving average price of $177.48 and a 200-day moving average price of $168.96. The firm has a market capitalization of $26.26 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 3.58 and a beta of 0.53. 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 released its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share 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 company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter last year, the firm posted $1.97 earnings per share. Sell-side analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial’s payout ratio is presently 17.74%.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk Debbink acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the purchase, the director owned 62,059 shares in the company, valued at $10,651,806.76. The trade was a 1.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on CINF shares. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a report on Wednesday, July 15th. Piper Sandler increased their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Keefe, Bruyette & Woods cut their price target on 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. Finally, Bank of America lowered 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 research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.