Johnson Investment Counsel Inc. Trims Stock Holdings in Cincinnati Financial Corporation $CINF

Johnson Investment Counsel Inc. lowered its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 1.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,367,767 shares of the insurance provider’s stock after selling 20,409 shares during the period. Cincinnati Financial comprises about 1.8% of Johnson Investment Counsel Inc.’s portfolio, making the stock its 8th biggest position. Johnson Investment Counsel Inc.’s holdings in Cincinnati Financial were worth $203,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CINF. Quintet Private Bank Europe S.A. bought a new stake in shares of Cincinnati Financial during the second quarter worth about $25,000. Spire Wealth Management grew its holdings in Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 76 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Cincinnati Financial during the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new stake in Cincinnati Financial during the 1st quarter worth approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in Cincinnati Financial during the 1st quarter worth approximately $32,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CINF. Roth Capital boosted their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus target price of $157.25.

Cincinnati Financial Trading Down 1.7%

NASDAQ:CINF opened at $158.97 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $24.86 billion, a P/E ratio of 13.79, a P/E/G ratio of 7.77 and a beta of 0.72. The firm’s fifty day moving average is $155.11 and its 200-day moving average is $148.06. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $166.90.

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

Cincinnati Financial Announces Dividend

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

About Cincinnati Financial

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.