Cincinnati Financial Corporation $CINF Stock Holdings Lessened by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott reduced its Cincinnati Financial stake by 31.3% in the second quarter, selling 55,054 shares and retaining 120,995 shares worth approximately $22.4 million. Institutional investors collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, below analysts’ $1.82 estimate, while revenue of $4.27 billion exceeded expectations. Analysts project full-year EPS of approximately $8.31.
• The stock opened at $173.17, below the analyst consensus price target of $195.40. Recent analyst views remain generally positive, with a consensus “Moderate Buy” rating despite one downgrade to “Neutral.”

Janney Montgomery Scott LLC lessened its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 31.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 120,995 shares of the insurance provider's stock after selling 55,054 shares during the period. Janney Montgomery Scott LLC owned about 0.08% of Cincinnati Financial worth $22,401,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. North Dakota State Investment Board grew its holdings in shares of Cincinnati Financial by 2.9% in the 2nd quarter. North Dakota State Investment Board now owns 4,580 shares of the insurance provider's stock worth $848,000 after acquiring an additional 127 shares during the last quarter. 71 West Capital Partners raised its position in shares of Cincinnati Financial by 62.2% during the second quarter. 71 West Capital Partners now owns 2,097 shares of the insurance provider's stock worth $388,000 after purchasing an additional 804 shares during the period. Founders Financial Alliance LLC acquired a new stake in shares of Cincinnati Financial during the second quarter worth $210,000. McAdam LLC lifted its holdings in shares of Cincinnati Financial by 2.6% during the second quarter. McAdam LLC now owns 2,763 shares of the insurance provider's stock valued at $512,000 after purchasing an additional 70 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC purchased a new stake in shares of Cincinnati Financial during the second quarter valued at $231,000. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $173.17 on Friday. The stock has a market cap of $26.58 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 3.62 and a beta of 0.54. The business has a fifty day simple moving average of $177.61 and a 200-day simple moving average of $168.16. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 12 month low of $149.60 and a 12 month high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). The business had revenue of $4.27 billion for the quarter, compared to analysts' expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter in the prior year, the firm posted $1.97 EPS. On average, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CINF. Weiss Ratings raised Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, August 6th. Bank of America downgraded Cincinnati Financial from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Roth Capital upped their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Finally, Piper Sandler lifted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cincinnati Financial has a consensus rating of "Moderate Buy" and an average price target of $195.40.

Cincinnati Financial Profile

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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