Johnson Investment Counsel Inc. Reduces Stake in Cincinnati Financial Corporation $CINF

Key Points

• Johnson Investment Counsel Inc. has reduced its stake in Cincinnati Financial Corporation by 1.5%, owning 1,367,767 shares after selling 20,409 shares, which accounts for 1.8% of its total holdings.
• Cincinnati Financial reported earnings of $1.97 per share for the last quarter, surpassing analysts' expectations, with quarterly revenue increasing 15.5% compared to the previous year.
• The company announced a quarterly dividend of $0.87, resulting in an annualized yield of 2.2%, with the payment set for October 15th to shareholders on record by September 22nd.

Johnson Investment Counsel Inc. reduced its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,367,767 shares of the insurance provider's stock after selling 20,409 shares during the quarter. Cincinnati Financial comprises 1.8% of Johnson Investment Counsel Inc.'s holdings, making the stock its 8th largest position. Johnson Investment Counsel Inc. owned 0.88% of Cincinnati Financial worth $203,688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Apollon Wealth Management LLC increased its stake in shares of Cincinnati Financial by 10.3% during the second quarter. Apollon Wealth Management LLC now owns 2,726 shares of the insurance provider's stock worth $406,000 after purchasing an additional 254 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of Cincinnati Financial by 12.1% during the second quarter. Fifth Third Wealth Advisors LLC now owns 1,573 shares of the insurance provider's stock worth $234,000 after purchasing an additional 170 shares during the period. Aberdeen Group plc increased its position in Cincinnati Financial by 8.8% during the 2nd quarter. Aberdeen Group plc now owns 107,833 shares of the insurance provider's stock worth $16,058,000 after buying an additional 8,715 shares during the period. Blue Trust Inc. increased its position in Cincinnati Financial by 9.7% during the 2nd quarter. Blue Trust Inc. now owns 10,507 shares of the insurance provider's stock worth $1,565,000 after buying an additional 926 shares during the period. Finally, 3Chopt Investment Partners LLC increased its position in Cincinnati Financial by 5.7% during the 2nd quarter. 3Chopt Investment Partners LLC now owns 1,641 shares of the insurance provider's stock worth $246,000 after buying an additional 89 shares during the period. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $158.97 on Friday. The company's 50 day simple moving average is $155.11 and its 200 day simple moving average is $148.06. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 7.77 and a beta of 0.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $166.90.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The business had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.80 billion. During the same period last year, the firm posted $1.29 earnings per share. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, research analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's payout ratio is currently 30.18%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CINF. Roth Capital raised their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cincinnati Financial in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $157.25.

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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