5,542 Cincinnati Financial Corporation $CINF Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,315 shares of the insurance provider’s stock after purchasing an additional 5,542 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Cincinnati Financial were worth $11,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. purchased a new position in shares of Cincinnati Financial in the 2nd quarter worth about $27,000. Covestor Ltd lifted its stake in shares of Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after buying an additional 83 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Cincinnati Financial in the first quarter worth approximately $34,000. Elevation Wealth Partners LLC increased its position in shares of Cincinnati Financial by 230.8% during the third quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Finally, GK Wealth Management LLC bought a new stake in shares of Cincinnati Financial during the third quarter valued at approximately $36,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CINF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Cincinnati Financial in a research note on Thursday. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Roth Capital raised their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Cincinnati Financial Stock Performance

Shares of CINF opened at $190.31 on Friday. The business has a 50-day simple moving average of $172.30 and a two-hundred day simple moving average of $169.36. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 52 week low of $153.40 and a 52 week high of $195.72. The stock has a market cap of $29.21 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 3.01 and a beta of 0.48.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, October 26th. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.81. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.64 billion. Cincinnati Financial had a net margin of 20.07% and a return on equity of 9.48%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.85 EPS. On average, analysts expect that Cincinnati Financial Corporation will post 9.21 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 22.05%.

Insiders Place Their Bets

In related news, Director Dirk Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average price 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.94% of the stock is owned by insiders.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals. The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.