Biltmore Family Office LLC Invests $207,000 in Cincinnati Financial Co. (NASDAQ:CINF)

Biltmore Family Office LLC acquired a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,510 shares of the insurance provider’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Cincinnati Financial by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after buying an additional 1,218,919 shares during the last quarter. AQR Capital Management LLC increased its stake in Cincinnati Financial by 39.4% in the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after buying an additional 277,550 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after buying an additional 187,934 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after buying an additional 107,081 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in Cincinnati Financial by 126.4% in the 2nd quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock valued at $21,259,000 after buying an additional 100,487 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Bank of America boosted their price objective 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. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Roth Mkm lifted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $156.47 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $24.46 billion, a P/E ratio of 8.04, a P/E/G ratio of 2.87 and a beta of 0.65. Cincinnati Financial Co. has a 12-month low of $99.92 and a 12-month high of $156.87. The firm has a 50-day moving average price of $141.26 and a two-hundred day moving average price of $129.41.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the company posted $1.66 EPS. The business’s revenue was up 21.5% on a year-over-year basis. Analysts anticipate that Cincinnati Financial Co. will post 6.32 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

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.