CX Institutional Lowers Stock Holdings in Cincinnati Financial Corporation $CINF

CX Institutional lowered its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,526 shares of the insurance provider’s stock after selling 70 shares during the quarter. CX Institutional’s holdings in Cincinnati Financial were worth $227,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CINF. Quintet Private Bank Europe S.A. acquired a new stake in Cincinnati Financial in the second quarter valued at about $25,000. Spire Wealth Management lifted its position in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 76 shares during the period. Meeder Asset Management Inc. acquired a new stake in Cincinnati Financial in the first quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new stake in Cincinnati Financial in the first quarter valued at about $30,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in Cincinnati Financial in the first quarter valued at about $32,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

CINF stock opened at $156.90 on Friday. The firm has a 50 day moving average of $152.62 and a 200-day moving average of $146.97. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $161.74. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The company has a market cap of $24.54 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 7.68 and a beta of 0.72.

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

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial’s payout ratio is currently 30.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Roth Capital raised their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.