Godsey & Gibb Inc. Makes New Investment in Cincinnati Financial Corporation $CINF

Godsey & Gibb Inc. acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF) in the 3rd quarter, Holdings Channel reports. The firm acquired 119,298 shares of the insurance provider’s stock, valued at approximately $19,013,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Cincinnati Financial by 225.5% during the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider’s stock valued at $4,993,976,000 after purchasing an additional 18,686,673 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Cincinnati Financial by 1,474.8% during the second quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock valued at $415,267,000 after buying an additional 2,100,563 shares during the period. Bank of America Corp DE purchased a new position in shares of Cincinnati Financial during the second quarter valued at about $347,891,000. First Trust Advisors LP increased its position in shares of Cincinnati Financial by 59.4% during the first 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, Dimensional Fund Advisors LP raised its stake in Cincinnati Financial by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,514,733 shares of the insurance provider’s stock worth $238,338,000 after buying an additional 44,608 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $166.67 on Thursday. The company’s fifty day moving average price is $168.56 and its 200-day moving average price is $169.49. The stock has a market cap of $25.58 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 2.79 and a beta of 0.52. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the business earned $1.97 earnings per share. On average, equities analysts expect that Cincinnati Financial Corporation will post 8.44 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is 17.74%.

Wall Street Analyst Weigh In

Several analysts have commented on CINF shares. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Roth Capital upped their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Piper Sandler upped their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their target price on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday. Finally, Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average target price of $191.60.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.94% of the company’s stock.

Cincinnati Financial Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Through its subsidiaries, the company markets property and casualty insurance products primarily through a network of independent insurance agents.

Its offerings include commercial and personal property and casualty coverage, such as businessowners’ policies, commercial auto, workers’ compensation, homeowners and automobile insurance. The company also provides life insurance and related financial products through Cincinnati Life Insurance Company.