Burney Co. Buys New Stake in Cincinnati Financial Corporation $CINF

Burney Co. bought a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,465 shares of the insurance provider’s stock, valued at approximately $516,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tredje AP fonden lifted its stake in Cincinnati Financial by 4.1% in the 2nd quarter. Tredje AP fonden now owns 12,726 shares of the insurance provider’s stock valued at $1,895,000 after buying an additional 501 shares in the last quarter. Summit Investment Advisory Services LLC acquired a new stake in Cincinnati Financial during the second quarter worth approximately $930,000. Simon Quick Advisors LLC boosted its position in Cincinnati Financial by 17.0% during the second quarter. Simon Quick Advisors LLC now owns 2,028 shares of the insurance provider’s stock worth $302,000 after acquiring an additional 294 shares during the last quarter. Strs Ohio boosted its position in Cincinnati Financial by 37.6% during the second quarter. Strs Ohio now owns 22,105 shares of the insurance provider’s stock worth $3,292,000 after acquiring an additional 6,037 shares during the last quarter. Finally, Impact Partnership Wealth LLC boosted its position in Cincinnati Financial by 11.0% during the second quarter. Impact Partnership Wealth LLC now owns 3,849 shares of the insurance provider’s stock worth $573,000 after acquiring an additional 382 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were acquired at an average price of $153.98 per share, with a total value of $153,980.00. Following the purchase, the director owned 58,482 shares in the company, valued at approximately $9,005,058.36. The trade was a 1.74% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.83% of the company’s stock.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $160.04 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. The company has a market cap of $24.97 billion, a P/E ratio of 11.91, a P/E/G ratio of 4.27 and a beta of 0.69. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $166.90. The firm’s 50 day moving average is $156.23 and its two-hundred day moving average is $150.56.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. Cincinnati Financial’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 earnings per share. Analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, September 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 25.89%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $177.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Finally, Roth Capital restated a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $171.67.

Cincinnati Financial Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.