Janney Montgomery Scott LLC Has $22.40 Million Position in Cincinnati Financial Corporation $CINF

Janney Montgomery Scott LLC cut its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 31.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,995 shares of the insurance provider’s stock after selling 55,054 shares during the period. Janney Montgomery Scott LLC’s holdings in Cincinnati Financial were worth $22,401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CINF. BIP Wealth LLC lifted its position in Cincinnati Financial by 1.6% in the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock worth $720,000 after buying an additional 63 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Cincinnati Financial by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock valued at $2,616,000 after buying an additional 68 shares during the period. McAdam LLC boosted its stake in shares of Cincinnati Financial by 2.6% during the 2nd quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock valued at $512,000 after buying an additional 70 shares during the period. Triton Financial Group Inc grew its holdings in shares of Cincinnati Financial by 0.7% during the 4th quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider’s stock valued at $1,718,000 after acquiring an additional 73 shares in the last quarter. Finally, Essex Financial Services Inc. grew its holdings in shares of Cincinnati Financial by 3.5% during the 4th quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider’s stock valued at $374,000 after acquiring an additional 77 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CINF has been the subject of several recent research reports. Piper Sandler increased their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Weiss Ratings raised Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, August 6th. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Roth Capital upped their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. One 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.40.

Cincinnati Financial Stock Performance

Shares of CINF opened at $173.17 on Friday. The company’s fifty day moving average is $177.61 and its 200-day moving average is $168.16. Cincinnati Financial Corporation has a 12 month low of $149.60 and a 12 month high of $194.81. The firm has a market cap of $26.58 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 3.62 and a beta of 0.54. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the firm posted $1.97 EPS. Equities analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

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.