Waverly Advisors LLC Buys 48,638 Shares of Cincinnati Financial Corporation $CINF

Waverly Advisors LLC lifted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 56.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 134,084 shares of the insurance provider’s stock after buying an additional 48,638 shares during the quarter. Waverly Advisors LLC’s holdings in Cincinnati Financial were worth $24,824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Cincinnati Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock worth $671,265,000 after purchasing an additional 25,888 shares during the period. Manning & Napier Advisors LLC bought a new stake in Cincinnati Financial in the 2nd quarter valued at $3,585,000. GQG Partners LLC bought a new stake in Cincinnati Financial in the 2nd quarter valued at $216,679,000. Eurizon Capital SGR S.p.A. acquired a new position in Cincinnati Financial in the 4th quarter valued at $1,231,000. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Cincinnati Financial in the 1st quarter valued at $12,002,000. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $169.14 on Wednesday. Cincinnati Financial Corporation has a 1 year low of $150.00 and a 1 year high of $194.81. The stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of 7.98, 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. The company’s 50 day simple moving average is $176.85 and its 200 day simple moving average is $169.04.

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). The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same quarter in the previous year, the company earned $1.97 earnings per share. As a group, research analysts predict that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Keefe, Bruyette & Woods decreased their price target on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 5th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.40.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the transaction, the director directly owned 62,059 shares in the company, valued at $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 2.94% of the stock is currently owned by corporate insiders.

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.