HighTower Advisors LLC Sells 12,594 Shares of Cincinnati Financial Corporation (NASDAQ:CINF)

HighTower Advisors LLC lessened its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 7.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 150,321 shares of the insurance provider’s stock after selling 12,594 shares during the period. HighTower Advisors LLC’s holdings in Cincinnati Financial were worth $22,205,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Park National Corp OH boosted its holdings in Cincinnati Financial by 0.6% in the first quarter. Park National Corp OH now owns 12,686 shares of the insurance provider’s stock worth $1,874,000 after acquiring an additional 72 shares in the last quarter. Spire Wealth Management boosted its holdings in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 76 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in Cincinnati Financial by 0.5% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider’s stock worth $2,871,000 after acquiring an additional 91 shares in the last quarter. CWA Asset Management Group LLC boosted its holdings in Cincinnati Financial by 4.1% in the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider’s stock worth $352,000 after acquiring an additional 94 shares in the last quarter. Finally, Brass Tax Wealth Management Inc. boosted its holdings in Cincinnati Financial by 5.2% in the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider’s stock worth $279,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 2.0%

Shares of NASDAQ:CINF opened at $151.06 on Friday. The business has a 50-day moving average price of $148.43 and a 200-day moving average price of $143.75. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market cap of $23.62 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 7.64 and a beta of 0.70. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.58. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%. Cincinnati Financial’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the business earned $1.29 earnings per share. Equities analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CINF. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Roth Capital raised their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $159.40.

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.