Private Trust Co. NA Lowers Stock Holdings in Cincinnati Financial Corporation $CINF

Private Trust Co. NA reduced its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,140 shares of the insurance provider’s stock after selling 320 shares during the period. Private Trust Co. NA’s holdings in Cincinnati Financial were worth $1,212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quintet Private Bank Europe S.A. purchased a new position in Cincinnati Financial during the 2nd quarter worth $25,000. Spire Wealth Management grew its position in shares of 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 buying an additional 76 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cincinnati Financial during the first quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in shares of Cincinnati Financial in the first quarter valued at about $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in Cincinnati Financial in the first quarter worth about $32,000. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 1.1%

NASDAQ CINF opened at $153.02 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a market cap of $23.93 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 7.09 and a beta of 0.72. The company has a 50 day moving average price of $155.54 and a 200 day moving average price of $148.34. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $166.90.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.58. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. Cincinnati Financial’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $1.29 earnings per share. As a group, sell-side analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were paid a $0.87 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is 30.18%.

Analysts Set New Price Targets

Several research firms have recently commented on CINF. Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. 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. 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 research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $157.25.

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.