The Manufacturers Life Insurance Company lowered its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 7.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 82,174 shares of the insurance provider's stock after selling 6,796 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Cincinnati Financial worth $12,930,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Motiv8 Investments LLC purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in Cincinnati Financial in the 1st quarter valued at about $34,000. DV Equities LLC acquired a new stake in Cincinnati Financial in the 4th quarter valued at about $36,000. Legacy Wealth Managment LLC ID lifted its stake in Cincinnati Financial by 78.8% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider's stock worth $40,000 after purchasing an additional 108 shares in the last quarter. Finally, SHP Wealth Management purchased a new position in Cincinnati Financial in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 65.24% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Bank of America lowered Cincinnati Financial from a "buy" rating to a "neutral" rating and dropped their price target for the company from $197.00 to $193.00 in a research report on Thursday. Roth Capital lifted their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $201.00 price objective (up from $191.00) on shares of Cincinnati Financial in a research note on Wednesday, July 8th. Weiss Ratings upgraded Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, June 26th. Finally, Atlantic Securities set a $197.00 price target on Cincinnati Financial in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Cincinnati Financial currently has an average rating of "Moderate Buy" and an average target price of $197.60.
Read Our Latest Stock Report on CINF
Cincinnati Financial Price Performance
CINF stock opened at $177.68 on Monday. The firm has a market cap of $27.27 billion, a PE ratio of 8.38, a PEG ratio of 3.63 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The firm's 50 day moving average price is $174.77 and its 200-day moving average price is $167.19. Cincinnati Financial Corporation has a one year low of $143.87 and a one year high of $194.81.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued 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). The business had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same quarter in the previous year, the company posted $1.97 earnings per share. On average, equities research analysts anticipate that Cincinnati Financial Corporation will post 8.51 EPS for the current year.
About Cincinnati Financial
(
Free Report)
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.
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