Kingsview Wealth Management LLC Has $2.23 Million Position in Cincinnati Financial Co. (NASDAQ:CINF)

Kingsview Wealth Management LLC raised its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 804.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,984 shares of the insurance provider’s stock after buying an additional 15,995 shares during the period. Kingsview Wealth Management LLC’s holdings in Cincinnati Financial were worth $2,233,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Cincinnati Financial by 10.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,748 shares of the insurance provider’s stock valued at $29,645,000 after buying an additional 22,252 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Cincinnati Financial by 4.3% during 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 buying an additional 7,709 shares during the period. Koshinski Asset Management Inc. acquired a new stake in shares of Cincinnati Financial during the 1st quarter valued at $483,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Cincinnati Financial by 330.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 11,440 shares of the insurance provider’s stock valued at $1,421,000 after purchasing an additional 8,784 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Cincinnati Financial by 24.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,604 shares of the insurance provider’s stock valued at $696,000 after purchasing an additional 1,085 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

CINF traded down $4.98 during trading on Friday, hitting $121.03. The stock had a trading volume of 989,434 shares, compared to its average volume of 732,345. The company has a 50 day simple moving average of $117.40 and a 200-day simple moving average of $115.62. Cincinnati Financial Co. has a 12 month low of $96.86 and a 12 month high of $128.23. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07. The firm has a market cap of $18.95 billion, a PE ratio of 8.05, a P/E/G ratio of 2.74 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Friday, April 26th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.03. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The business’s revenue was up 31.0% compared to the same quarter last year. Analysts expect that Cincinnati Financial Co. will post 6.23 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th were issued a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $3.24 annualized dividend and a dividend yield of 2.68%. Cincinnati Financial’s payout ratio is 21.56%.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk J. Debbink acquired 1,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were bought at an average price of $113.47 per share, for a total transaction of $113,470.00. Following the acquisition, the director now owns 53,988 shares in the company, valued at approximately $6,126,018.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CINF. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Bank of America raised their price target on shares of Cincinnati Financial from $143.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 11th. BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $125.00 to $135.00 in a report on Monday, March 25th. Piper Sandler restated a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a report on Monday, April 1st. Finally, Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $126.00 to $135.00 in a report on Friday, June 28th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average target price of $132.50.

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.