Russell Investments Group Ltd. Sells 7,755 Shares of Cincinnati Financial Corporation $CINF

Russell Investments Group Ltd. cut its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 216,317 shares of the insurance provider’s stock after selling 7,755 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cincinnati Financial were worth $40,088,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Cincinnati Financial by 6.9% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 68,349 shares of the insurance provider’s stock worth $12,654,000 after buying an additional 4,395 shares during the period. Gryphon Financial Partners LLC acquired a new position in shares of Cincinnati Financial during the 2nd quarter valued at $202,000. North Dakota State Investment Board lifted its position in shares of Cincinnati Financial by 2.9% during the 2nd quarter. North Dakota State Investment Board now owns 4,580 shares of the insurance provider’s stock valued at $848,000 after acquiring an additional 127 shares during the period. 71 West Capital Partners lifted its position in shares of Cincinnati Financial by 62.2% during the 2nd quarter. 71 West Capital Partners now owns 2,097 shares of the insurance provider’s stock valued at $388,000 after acquiring an additional 804 shares during the period. Finally, Founders Financial Alliance LLC bought a new position in Cincinnati Financial during the second quarter worth $210,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $173.17 on Friday. The company has a market cap of $26.58 billion, a P/E ratio of 8.17, a PEG ratio of 3.62 and a beta of 0.54. The company has a fifty day simple moving average of $177.61 and a 200 day simple moving average of $168.16. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 12-month low of $149.60 and a 12-month high of $194.81.

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

Wall Street Analyst Weigh In

CINF has been the subject of a number of research reports. Piper Sandler raised their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their price objective on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 5th. Roth Capital raised their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $195.40.

Cincinnati Financial 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.