Clarius Group LLC Cuts Position in Cincinnati Financial Corporation $CINF

Key Points

• Clarius Group LLC has reduced its stake in Cincinnati Financial Corporation by 8.8%, owning 78,334 shares after selling 7,518 shares in the 2nd quarter.
• Analysts have a consensus rating of "Moderate Buy" for Cincinnati Financial, with a target price averaging $159.40, reflecting optimism about the company's growth.
• The company recently reported earnings of $1.97 per share, exceeding estimates, and announced a quarterly dividend of $0.87 per share, translating to an annual yield of 2.1%.

Clarius Group LLC decreased its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 8.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,334 shares of the insurance provider's stock after selling 7,518 shares during the quarter. Cincinnati Financial comprises approximately 0.7% of Clarius Group LLC's portfolio, making the stock its 25th biggest holding. Clarius Group LLC owned about 0.05% of Cincinnati Financial worth $11,665,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Quintet Private Bank Europe S.A. purchased a new position in shares of Cincinnati Financial in the second quarter valued at $25,000. Spire Wealth Management increased its position in shares of Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after buying an additional 76 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cincinnati Financial in the first quarter valued at $26,000. Alpine Bank Wealth Management purchased a new position in shares of Cincinnati Financial in the first quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in shares of Cincinnati Financial in the first quarter valued at $32,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Weiss Ratings restated a "buy (b)" rating on shares of Cincinnati Financial in a research report on Saturday, September 27th. Finally, Roth Capital increased their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.40.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $163.29 on Friday. The firm has a market capitalization of $25.54 billion, a P/E ratio of 14.16, a P/E/G ratio of 7.99 and a beta of 0.72. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $164.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The business's 50-day simple moving average is $153.62 and its 200-day simple moving average is $147.45.

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, beating the consensus estimate of $1.39 by $0.58. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The company's revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. Equities analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's payout ratio is currently 30.18%.

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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