Richardson Financial Services Inc. Makes New Investment in Cincinnati Financial Co. (NASDAQ:CINF)

Richardson Financial Services Inc. purchased a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,985 shares of the insurance provider’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CINF. Royal London Asset Management Ltd. raised its holdings in shares of Cincinnati Financial by 6.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 64,186 shares of the insurance provider’s stock valued at $6,641,000 after purchasing an additional 3,907 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in Cincinnati Financial in the fourth quarter worth approximately $31,000. Aurora Investment Counsel lifted its holdings in Cincinnati Financial by 3.6% during the fourth quarter. Aurora Investment Counsel now owns 12,569 shares of the insurance provider’s stock worth $1,279,000 after buying an additional 441 shares during the period. Clarity Asset Management Inc. bought a new stake in Cincinnati Financial during the 4th quarter valued at $74,000. Finally, United Advisor Group LLC purchased a new position in shares of Cincinnati Financial in the 4th quarter valued at $888,000. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CINF has been the subject of a number of analyst reports. Piper Sandler restated a “neutral” rating and set a $116.00 price objective on shares of Cincinnati Financial in a research note on Monday, April 1st. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Citigroup lifted their price objective on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Cincinnati Financial has an average rating of “Hold” and a consensus price target of $126.00.

Insider Activity

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $113.47 per share, with a total value of $113,470.00. Following the transaction, the director now owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Cincinnati Financial Stock Performance

CINF stock traded down $1.39 during trading on Friday, reaching $112.27. The company had a trading volume of 670,762 shares, compared to its average volume of 507,420. The company has a market cap of $17.58 billion, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65. Cincinnati Financial Co. has a twelve month low of $95.01 and a twelve month high of $124.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a 50-day simple moving average of $117.14 and a 200-day simple moving average of $113.08.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Friday, April 26th. The insurance provider reported $1.72 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 business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, sell-side analysts expect that Cincinnati Financial Co. will post 6.37 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $3.24 annualized dividend and a yield of 2.89%. Cincinnati Financial’s payout ratio is presently 21.56%.

About Cincinnati Financial

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.