Healthcare of Ontario Pension Plan Trust Fund Sells 127,786 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its Cincinnati Financial stake by 92.9%, selling 127,786 shares and retaining 9,803 shares valued at approximately $1.54 million. Institutional investors collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly earnings of $1.43 per share, missing analysts’ $1.82 estimate, while revenue reached $4.27 billion versus the $2.71 billion consensus forecast.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $197.60, compared with the stock’s reported price of $177.68.

Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 92.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,803 shares of the insurance provider's stock after selling 127,786 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Cincinnati Financial were worth $1,543,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Motiv8 Investments LLC acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Cincinnati Financial during the first quarter valued at approximately $34,000. DV Equities LLC acquired a new position in shares of Cincinnati Financial in the fourth quarter valued at $36,000. Legacy Wealth Managment LLC ID raised its stake in shares of Cincinnati Financial by 78.8% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 108 shares in the last quarter. Finally, SHP Wealth Management bought a new position in Cincinnati Financial in the fourth quarter worth $44,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $177.68 on Friday. Cincinnati Financial Corporation has a 1-year low of $143.87 and a 1-year high of $194.81. The company has a 50 day moving average of $174.77 and a 200-day moving average of $167.16. The company has a current ratio of 0.31, a quick ratio of 0.28 and a debt-to-equity ratio of 0.05. The firm has a market cap of $27.27 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 3.71 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced 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). The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same period in the previous year, the firm earned $1.97 earnings per share. On average, equities analysts forecast that Cincinnati Financial Corporation will post 8.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CINF shares. Roth Capital boosted their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday. Bank of America downgraded shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $197.00 to $193.00 in a report on Thursday. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Piper Sandler upped their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $197.60.

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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