Cyndeo Wealth Partners LLC Invests $246,000 in Cincinnati Financial Co. (NASDAQ:CINF)

Cyndeo Wealth Partners LLC bought a new stake in Cincinnati Financial Co. (NASDAQ:CINF) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 1,807 shares of the insurance provider’s stock, valued at approximately $246,000.

Other institutional investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its holdings in shares of Cincinnati Financial by 4.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock valued at $23,367,000 after purchasing an additional 7,709 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Cincinnati Financial by 40.6% in the first quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock valued at $20,904,000 after buying an additional 48,597 shares in the last quarter. Vest Financial LLC lifted its holdings in Cincinnati Financial by 14.0% during the 2nd quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after buying an additional 46,530 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Cincinnati Financial by 77.3% during the 1st quarter. SG Americas Securities LLC now owns 42,896 shares of the insurance provider’s stock worth $5,326,000 after acquiring an additional 18,704 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new position in shares of Cincinnati Financial in the 1st quarter valued at about $7,054,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Down 0.9 %

CINF stock opened at $140.17 on Tuesday. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. The company has a fifty day moving average price of $135.32 and a 200 day moving average price of $124.78. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a 12 month low of $96.86 and a 12 month high of $142.25.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were paid a $0.81 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 annualized dividend and a dividend yield of 2.31%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.56%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $126.00 to $135.00 in a report on Friday, June 28th. Bank of America lifted their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Roth Mkm upped their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.29.

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.