Cincinnati Financial Corporation (CINF) Position Lowered by First Trust Advisors LP
First Trust Advisors LP decreased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 406,342 shares of the insurance provider’s stock after selling 7,526 shares during the period. First Trust Advisors LP’s holdings in Cincinnati Financial Corporation were worth $29,439,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in CINF. Korea Investment CORP increased its position in shares of Cincinnati Financial Corporation by 142.0% in the second quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock worth $105,000 after buying an additional 852 shares in the last quarter. Clarius Group LLC acquired a new position in shares of Cincinnati Financial Corporation during the first quarter worth approximately $130,000. MCF Advisors LLC increased its position in shares of Cincinnati Financial Corporation by 2.4% in the first quarter. MCF Advisors LLC now owns 2,243 shares of the insurance provider’s stock worth $162,000 after buying an additional 52 shares in the last quarter. First Manhattan Co. increased its position in shares of Cincinnati Financial Corporation by 36.2% in the first quarter. First Manhattan Co. now owns 2,437 shares of the insurance provider’s stock worth $183,000 after buying an additional 648 shares in the last quarter. Finally, First Heartland Consultants Inc. acquired a new position in shares of Cincinnati Financial Corporation during the second quarter worth approximately $210,000. Institutional investors own 63.10% of the company’s stock.
Cincinnati Financial Corporation (NASDAQ CINF) opened at 79.44 on Wednesday. Cincinnati Financial Corporation has a 12-month low of $68.11 and a 12-month high of $81.98. The company has a market cap of $13.03 billion, a P/E ratio of 22.76 and a beta of 0.89. The firm has a 50-day moving average price of $75.23 and a 200-day moving average price of $72.52.
Cincinnati Financial Corporation (NASDAQ:CINF) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.18. Cincinnati Financial Corporation had a return on equity of 6.57% and a net margin of 10.33%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the business earned $0.57 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Cincinnati Financial Corporation will post $2.90 earnings per share for the current fiscal year.
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A number of brokerages recently commented on CINF. BidaskClub downgraded Cincinnati Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Royal Bank Of Canada restated a “hold” rating and set a $72.00 target price on shares of Cincinnati Financial Corporation in a report on Monday, May 22nd. Zacks Investment Research downgraded Cincinnati Financial Corporation from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. Finally, Keefe, Bruyette & Woods set a $70.00 target price on Cincinnati Financial Corporation and gave the company a “hold” rating in a report on Wednesday, May 24th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Cincinnati Financial Corporation presently has an average rating of “Hold” and a consensus price target of $78.75.
About Cincinnati Financial Corporation
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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