HORAN Wealth LLC Trims Holdings in Cincinnati Financial Corporation $CINF

Key Points

• HORAN Wealth LLC cut its Cincinnati Financial position by 53.6% in the second quarter, selling 7,452 shares and retaining 6,448 shares valued at approximately $1.19 million. Institutional investors collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, missing analysts’ $1.82 estimate, while revenue reached $4.27 billion versus expectations of $2.71 billion. Analysts project full-year EPS of $8.31.
• The company declared a quarterly dividend of $0.94 per share, or $3.76 annualized, representing a 2.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $195.40.

HORAN Wealth LLC decreased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 53.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,448 shares of the insurance provider's stock after selling 7,452 shares during the period. HORAN Wealth LLC's holdings in Cincinnati Financial were worth $1,194,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. purchased a new stake in shares of Cincinnati Financial in the second quarter worth $27,000. Covestor Ltd raised its position in shares of Cincinnati Financial by 98.8% during the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 83 shares during the period. Motiv8 Investments LLC purchased a new position in shares of Cincinnati Financial during the 4th quarter valued at $29,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Cincinnati Financial during the 1st quarter valued at $34,000. Finally, DV Equities LLC bought a new position in Cincinnati Financial in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Performance

CINF opened at $171.10 on Monday. The stock has a market capitalization of $26.26 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 3.58 and a beta of 0.53. The company has a fifty day moving average of $177.48 and a 200 day moving average of $168.96. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly 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 company had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter in the previous year, the firm earned $1.97 EPS. As a group, sell-side analysts forecast that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial's payout ratio is 17.74%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CINF. Weiss Ratings lowered Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research note on Friday, August 21st. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. Piper Sandler upped their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Bank of America cut Cincinnati Financial from a "buy" rating to a "neutral" rating and cut their target price for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Finally, Roth Capital increased their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and a consensus price target of $195.40.

Insider Activity at Cincinnati Financial

In other news, Director Dirk Debbink purchased 1,000 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the acquisition, the director directly owned 62,059 shares of the company's stock, valued at $10,651,806.76. This represents a 1.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.94% of the company's stock.

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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