Rossby Financial LCC Reduces Stock Holdings in Cincinnati Financial Corporation $CINF

Rossby Financial LCC decreased its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 13.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,021 shares of the insurance provider’s stock after selling 315 shares during the quarter. Rossby Financial LCC’s holdings in Cincinnati Financial were worth $301,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new position in Cincinnati Financial during the 2nd quarter valued at $25,000. Spire Wealth Management boosted 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 valued at $26,000 after acquiring an additional 76 shares during the period. Meeder Asset Management Inc. purchased a new position in Cincinnati Financial during the 1st quarter valued at $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in Cincinnati Financial during the 1st quarter valued at $32,000. Finally, AlphaQuest LLC boosted its holdings in Cincinnati Financial by 714.3% during the 2nd quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Roth Capital reiterated a “buy” rating and issued a $175.00 target price on shares of Cincinnati Financial in a report on Tuesday. Finally, Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $167.67.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $151.75 on Wednesday. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $166.90. The stock has a market capitalization of $23.73 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 7.05 and a beta of 0.72. The stock has a fifty day simple moving average of $156.06 and a two-hundred day simple moving average of $149.60. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.84. Cincinnati Financial had a return on equity of 8.72% and a net margin of 17.57%.The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the business earned $1.42 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd were given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, September 22nd. Cincinnati Financial’s payout ratio is presently 30.18%.

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.