Klein Pavlis & Peasley Financial Inc. Raises Stake in Cincinnati Financial Corporation $CINF

Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 127.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,310 shares of the insurance provider’s stock after acquiring an additional 7,469 shares during the quarter. Cincinnati Financial accounts for approximately 1.3% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 28th biggest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in Cincinnati Financial were worth $2,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CINF. Campbell & CO Investment Adviser LLC purchased a new position in Cincinnati Financial in the 3rd quarter worth approximately $1,697,000. Octavia Wealth Advisors LLC raised its position in Cincinnati Financial by 116.3% during the 3rd quarter. Octavia Wealth Advisors LLC now owns 13,080 shares of the insurance provider’s stock valued at $2,079,000 after purchasing an additional 7,032 shares during the last quarter. Stephens Inc. AR increased its position in Cincinnati Financial by 5.6% during the 3rd quarter. Stephens Inc. AR now owns 5,111 shares of the insurance provider’s stock valued at $808,000 after purchasing an additional 270 shares during the period. Quent Capital LLC bought a new position in Cincinnati Financial in the third quarter worth about $34,000. Finally, Nordea Investment Management AB lifted its holdings in Cincinnati Financial by 8.4% in the third quarter. Nordea Investment Management AB now owns 13,531 shares of the insurance provider’s stock worth $2,128,000 after buying an additional 1,048 shares during the period. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 0.7%

Cincinnati Financial stock opened at $162.18 on Friday. The business has a 50-day simple moving average of $164.61 and a two-hundred day simple moving average of $157.43. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. The company has a market cap of $25.30 billion, a P/E ratio of 12.07, a P/E/G ratio of 3.68 and a beta of 0.66. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $169.86.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.84. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $1.42 earnings per share. Analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd were issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, December 22nd. Cincinnati Financial’s payout ratio is currently 25.89%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CINF shares. Piper Sandler increased their target price on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Roth Capital restated a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a report on Tuesday, October 28th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.75.

Insider Buying and Selling

In related news, Director Dirk J. Debbink acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were purchased at an average price of $153.98 per share, with a total value of $153,980.00. Following the completion of the purchase, the director directly owned 58,482 shares of the company’s stock, valued at $9,005,058.36. This represents a 1.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.83% of the stock is currently owned by insiders.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.