Cincinnati Financial Corporation $CINF Stake Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,315 shares of the insurance provider’s stock after purchasing an additional 5,542 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Cincinnati Financial were worth $11,684,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. AlphaCentric Advisors LLC bought a new position in shares of Cincinnati Financial during the 3rd quarter valued at approximately $127,000. United Advisor Group LLC grew its holdings in Cincinnati Financial by 0.9% during the 3rd quarter. United Advisor Group LLC now owns 6,678 shares of the insurance provider’s stock valued at $1,064,000 after purchasing an additional 61 shares during the last quarter. Alps Advisors Inc. grew its holdings in Cincinnati Financial by 1,165.6% during the 3rd quarter. Alps Advisors Inc. now owns 16,428 shares of the insurance provider’s stock valued at $2,618,000 after purchasing an additional 15,130 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in Cincinnati Financial by 18.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,274 shares of the insurance provider’s stock worth $362,000 after purchasing an additional 352 shares during the period. Finally, Kestra Advisory Services LLC lifted its stake in Cincinnati Financial by 13.1% in the third quarter. Kestra Advisory Services LLC now owns 115,730 shares of the insurance provider’s stock worth $18,444,000 after purchasing an additional 13,439 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CINF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Cincinnati Financial in a research note on Thursday. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $197.00 to $193.00 in a report on Thursday, July 30th. Roth Capital upped their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.60.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were purchased at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the purchase, the director directly owned 62,059 shares in the company, valued at $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.94% of the company’s stock.

Cincinnati Financial Stock Up 0.3%

Cincinnati Financial stock opened at $190.31 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.05. The firm has a market cap of $29.21 billion, a P/E ratio of 11.16, a P/E/G ratio of 3.01 and a beta of 0.48. The business has a fifty day moving average of $172.30 and a two-hundred day moving average of $169.36. Cincinnati Financial Corporation has a twelve month low of $153.40 and a twelve month high of $195.72.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, October 26th. The insurance provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.81. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.64 billion. Cincinnati Financial had a return on equity of 9.48% and a net margin of 20.07%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.85 earnings per share. On average, analysts forecast that Cincinnati Financial Corporation will post 9.21 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. Cincinnati Financial’s dividend payout ratio is presently 22.05%.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals. The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.