The Manufacturers Life Insurance Company Lowers Stock Position in Cincinnati Financial Corporation $CINF

The Manufacturers Life Insurance Company cut its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 7.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,174 shares of the insurance provider’s stock after selling 6,796 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cincinnati Financial were worth $12,930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bison Wealth LLC acquired a new stake in Cincinnati Financial in the 4th quarter valued at approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cincinnati Financial by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after purchasing an additional 525 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after purchasing an additional 173,343 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Cincinnati Financial during the second quarter worth $101,000. Finally, Cerity Partners LLC boosted its position in shares of Cincinnati Financial by 10.8% during the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after buying an additional 4,674 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $177.68 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The stock has a market cap of $27.27 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 3.63 and a beta of 0.55. The business has a 50-day moving average price of $174.77 and a 200 day moving average price of $167.19. Cincinnati Financial Corporation has a 52-week low of $143.87 and a 52-week high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period in the previous year, the firm earned $1.97 earnings per share. Equities research analysts forecast that Cincinnati Financial Corporation will post 8.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CINF. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $197.00 to $193.00 in a report on Thursday. Piper Sandler raised their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Roth Capital lifted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Finally, Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average target price of $197.60.

Cincinnati Financial Company Profile

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.