Dupree Financial Group LLC Sells 36,249 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Dupree Financial Group LLC cut its Cincinnati Financial stake by 59.7% in the first quarter, selling 36,249 shares and leaving it with 24,464 shares worth about $3.85 million.
• Cincinnati Financial posted solid quarterly results, with EPS of $2.10 beating estimates and revenue of $2.86 billion topping forecasts, while revenue rose 11.6% year over year.
• The company continues to pay a healthy dividend and has a favorable analyst outlook, announcing a $0.94 quarterly dividend for a 2.0% annual yield and maintaining a consensus “Buy” rating with a $183.25 target price.

Dupree Financial Group LLC reduced its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 59.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,464 shares of the insurance provider's stock after selling 36,249 shares during the period. Cincinnati Financial comprises 1.5% of Dupree Financial Group LLC's portfolio, making the stock its 25th largest holding. Dupree Financial Group LLC's holdings in Cincinnati Financial were worth $3,849,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Triton Financial Group Inc increased its stake in shares of Cincinnati Financial by 0.7% in the 4th quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider's stock worth $1,718,000 after purchasing an additional 73 shares in the last quarter. Essex Financial Services Inc. increased its position in Cincinnati Financial by 3.5% in the fourth quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider's stock worth $374,000 after buying an additional 77 shares in the last quarter. HUB Investment Partners LLC raised its stake in shares of Cincinnati Financial by 3.9% in the second quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider's stock worth $303,000 after buying an additional 77 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of Cincinnati Financial by 1.8% in the fourth quarter. J.W. Cole Advisors Inc. now owns 4,363 shares of the insurance provider's stock worth $669,000 after buying an additional 77 shares during the period. Finally, William B. Walkup & Associates Inc. lifted its position in shares of 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 valued at $428,000 after buying an additional 82 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Price Performance

CINF opened at $184.08 on Monday. The firm has a 50-day simple moving average of $166.23 and a two-hundred day simple moving average of $164.11. Cincinnati Financial Corporation has a 52 week low of $143.87 and a 52 week high of $185.20. The company has a market capitalization of $28.48 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 4.00 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.17. The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.61 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The business's revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) earnings per share. Analysts forecast that Cincinnati Financial Corporation will post 8.61 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. Cincinnati Financial's payout ratio is presently 21.50%.

Analyst Ratings Changes

Several research firms recently issued reports on CINF. Weiss Ratings raised shares of Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday. Bank of America lowered their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Piper Sandler increased their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Finally, Roth Mkm lifted their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $183.25.

About Cincinnati Financial

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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