Private Trust Co. NA Decreases Stake in Cincinnati Financial Corporation $CINF

Private Trust Co. NA reduced its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 3.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,140 shares of the insurance provider’s stock after selling 320 shares during the quarter. Private Trust Co. NA’s holdings in Cincinnati Financial were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CINF. Quintet Private Bank Europe S.A. acquired a new stake in Cincinnati Financial during the 2nd quarter worth about $25,000. Spire Wealth Management raised its stake in shares of Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 76 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cincinnati Financial in the first quarter worth about $26,000. Alpine Bank Wealth Management purchased a new stake in Cincinnati Financial in the first quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Cincinnati Financial in the 1st quarter valued at $32,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $153.02 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The business has a 50 day simple moving average of $155.54 and a two-hundred day simple moving average of $148.34. The stock has a market capitalization of $23.93 billion, a P/E ratio of 13.27, a PEG ratio of 7.09 and a beta of 0.72. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $166.90.

Cincinnati Financial (NASDAQ:CINF) last released its 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. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 earnings per share. As a group, analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, September 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 30.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Roth Capital boosted their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently 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.