Cincinnati Financial Corporation $CINF Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Cincinnati Financial Corporation by 13.5%, owning 331,424 shares valued at approximately $48.85 million following the sale of 51,507 shares in the first quarter.
• Cincinnati Financial received upgrades from multiple analysts, with Roth Capital raising the target price from $160.00 to $175.00 and Keefe, Bruyette & Woods elevating their target from $167.00 to $168.00, reflecting confidence in the stock's performance.
• The company's recent earnings report showed a significant increase, with an EPS of $1.97 surpassing the consensus estimate of $1.39, alongside a revenue growth of 15.5% year-over-year despite a decline from estimates.

Hsbc Holdings PLC lessened its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 13.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 331,424 shares of the insurance provider's stock after selling 51,507 shares during the quarter. Hsbc Holdings PLC owned about 0.21% of Cincinnati Financial worth $48,852,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Korea Investment CORP boosted its position in Cincinnati Financial by 28.6% during the 1st quarter. Korea Investment CORP now owns 119,628 shares of the insurance provider's stock worth $17,671,000 after acquiring an additional 26,601 shares during the period. Versor Investments LP acquired a new position in Cincinnati Financial during the first quarter valued at $879,000. Raymond James Financial Inc. raised its position in Cincinnati Financial by 558.8% during the first quarter. Raymond James Financial Inc. now owns 540,950 shares of the insurance provider's stock valued at $79,909,000 after buying an additional 458,841 shares during the period. Cresset Asset Management LLC raised its position in Cincinnati Financial by 194.0% during the first quarter. Cresset Asset Management LLC now owns 60,062 shares of the insurance provider's stock valued at $8,924,000 after buying an additional 39,636 shares during the period. Finally, American Century Companies Inc. raised its position in Cincinnati Financial by 1.4% during the first quarter. American Century Companies Inc. now owns 52,361 shares of the insurance provider's stock valued at $7,735,000 after buying an additional 703 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Roth Capital upped their target price on 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 upped their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Stock Performance

CINF opened at $152.96 on Friday. The company has a market cap of $23.92 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 7.52 and a beta of 0.70. The stock has a 50-day moving average of $148.78 and a 200-day moving average of $144.15. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, topping 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 return on equity of 7.14% and a net margin of 15.59%.The firm'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 EPS. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial 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.

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