CX Institutional Acquires 31,548 Shares of Cincinnati Financial Corporation $CINF

Key Points

• CX Institutional increased its Cincinnati Financial stake by 1,405.9% in the second quarter, buying 31,548 additional shares for a total position of 33,792 shares valued at approximately $6.26 million. Institutional investors collectively own 65.24% of the company.
• Analyst views remain generally favorable, with Cincinnati Financial carrying a consensus “Moderate Buy” rating and an average price target of $197.60. Recent actions included upgrades from Roth Capital and Weiss Ratings, while Bank of America downgraded the stock to neutral.
• Cincinnati Financial reported quarterly earnings of $1.43 per share, missing the $1.82 consensus estimate, while revenue reached $4.27 billion. The stock opened at $179.42, compared with a 52-week range of $149.21 to $194.81.

CX Institutional boosted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 1,405.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,792 shares of the insurance provider's stock after buying an additional 31,548 shares during the quarter. CX Institutional's holdings in Cincinnati Financial were worth $6,256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triton Financial Group Inc lifted its holdings in shares of Cincinnati Financial by 0.7% in the fourth quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider's stock worth $1,718,000 after acquiring an additional 73 shares during the last quarter. Essex Financial Services Inc. boosted its stake in shares of Cincinnati Financial by 3.5% in the 4th quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider's stock valued at $374,000 after purchasing an additional 77 shares in the last quarter. HUB Investment Partners LLC grew its holdings in shares of Cincinnati Financial by 3.9% during the 2nd quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider's stock valued at $303,000 after purchasing an additional 77 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Cincinnati Financial by 1.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 4,363 shares of the insurance provider's stock valued at $669,000 after purchasing an additional 77 shares during the last quarter. Finally, William B. Walkup & Associates Inc. increased its position in Cincinnati Financial by 2.9% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider's stock worth $428,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CINF shares. Bank of America downgraded shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Roth Capital boosted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Piper Sandler upped their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Weiss Ratings upgraded Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, June 26th. Finally, 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 report on Wednesday, July 8th. 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, Cincinnati Financial has a consensus rating of "Moderate Buy" and an average price target of $197.60.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $179.42 on Wednesday. The business has a 50 day moving average of $175.21 and a 200-day moving average of $167.42. The company has a market capitalization of $27.54 billion, a P/E ratio of 8.46, a P/E/G ratio of 3.64 and a beta of 0.54. Cincinnati Financial Corporation has a 1 year low of $149.21 and a 1 year high of $194.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the prior year, the business earned $1.97 earnings per share. On average, equities research analysts predict that Cincinnati Financial Corporation will post 8.51 earnings per share for the current year.

Cincinnati Financial Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source