Croban Reduces Stock Position in Cincinnati Financial Corporation $CINF

Croban lessened its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 1.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,831 shares of the insurance provider’s stock after selling 67 shares during the quarter. Croban’s holdings in Cincinnati Financial were worth $1,017,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CINF. Quintet Private Bank Europe S.A. purchased a new position in Cincinnati Financial in the second quarter valued at $25,000. Spire Wealth Management increased 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 valued at $26,000 after buying an additional 76 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Cincinnati Financial in the first quarter valued at $26,000. Alpine Bank Wealth Management purchased a new position in Cincinnati Financial in the first quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Cincinnati Financial in the first quarter valued at $32,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $158.97 on Friday. The stock’s 50-day moving average is $155.11 and its two-hundred day moving average is $148.05. The firm has a market cap of $24.86 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 7.91 and a beta of 0.72. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $166.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29.

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

Cincinnati Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CINF shares. Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Finally, Roth Capital raised their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.25.

Cincinnati Financial Company 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.