Cincinnati Financial Corporation $CINF Shares Sold by Farmers Trust Co.

Key Points

• Farmers Trust Co. sold 43.6% of their shares in Cincinnati Financial, leaving them with 11,509 shares worth approximately $1.71 million.
• Notable hedge funds have been active recently, with FJ Capital Management increasing their stake by 97.5%, currently holding shares valued at $4.33 million.
• Cincinnati Financial reported earnings of $1.97 per share for the recent quarter, exceeding estimates, but revenue of $2.48 billion fell short of forecasts of $2.80 billion, indicating mixed performance.

Farmers Trust Co. decreased its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 43.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,509 shares of the insurance provider's stock after selling 8,905 shares during the quarter. Farmers Trust Co.'s holdings in Cincinnati Financial were worth $1,714,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Cincinnati Financial in the first quarter worth approximately $337,000. FJ Capital Management LLC increased its stake in Cincinnati Financial by 97.5% in the first quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider's stock valued at $4,327,000 after acquiring an additional 14,464 shares during the period. M&T Bank Corp increased its stake in Cincinnati Financial by 12.7% in the first quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider's stock valued at $1,161,000 after acquiring an additional 887 shares during the period. CWA Asset Management Group LLC increased its stake in Cincinnati Financial by 4.1% in the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after acquiring an additional 94 shares during the period. Finally, OLD Republic International Corp boosted its position in Cincinnati Financial by 1.0% in the first quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider's stock valued at $58,955,000 after buying an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Roth Capital upped their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Stock Down 0.9%

Cincinnati Financial stock opened at $154.69 on Tuesday. 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's fifty day moving average is $152.08 and its 200 day moving average is $146.58. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $161.74. The company has a market capitalization of $24.19 billion, a PE ratio of 13.42, a PEG ratio of 7.64 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.58. The firm had revenue of $2.48 billion for 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%. The business's revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 earnings per share. As a group, sell-side analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

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

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