Cincinnati Financial Corporation $CINF Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its stake in Cincinnati Financial Corporation by 7.7% during Q1, now owning 150,321 shares valued at approximately $22.2 million.
• Other institutions, including M&T Bank Corp and CWA Asset Management, also increased their stakes, with ownership by institutional investors comprising 65.24% of the company.
• Cincinnati Financial reported an EPS of $1.97 for its latest quarter, exceeding estimates, with a revenue of $2.48 billion, compared to a consensus estimate of $2.80 billion.

HighTower Advisors LLC decreased its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,321 shares of the insurance provider's stock after selling 12,594 shares during the period. HighTower Advisors LLC owned about 0.10% of Cincinnati Financial worth $22,205,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Cincinnati Financial by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider's stock valued at $2,844,419,000 after buying an additional 87,773 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cincinnati Financial by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock valued at $940,130,000 after purchasing an additional 358,018 shares during the last quarter. Invesco Ltd. raised its position in Cincinnati Financial by 2.2% in the 1st quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider's stock worth $273,062,000 after purchasing an additional 40,222 shares during the period. Northern Trust Corp raised its holdings in shares of Cincinnati Financial by 10.8% in the fourth quarter. Northern Trust Corp now owns 1,672,210 shares of the insurance provider's stock worth $240,297,000 after buying an additional 162,714 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Cincinnati Financial by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,415,742 shares of the insurance provider's stock worth $203,438,000 after acquiring an additional 34,810 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

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

Cincinnati Financial Stock Up 0.6%

CINF stock traded up $0.9150 during trading on Wednesday, hitting $153.2950. 218,339 shares of the company's stock were exchanged, compared to its average volume of 689,775. The business has a 50-day moving average price of $148.56 and a two-hundred day moving average price of $143.97. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $23.97 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 7.43 and a beta of 0.70. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the company posted $1.29 EPS. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Company 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.