Cincinnati Financial Corporation (NASDAQ:CINF) Position Lowered by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC has reduced its stake in Cincinnati Financial Corporation by 54.1%, now holding 8,891 shares valued at approximately $1.31 million.
• In recent analyst changes, Wall Street Zen upgraded Cincinnati Financial from a "sell" to a "hold" rating, while Roth Capital raised its target price from $160 to $175, categorizing it with a "buy" rating.
• The company's latest earnings report revealed an EPS of $1.97, exceeding estimates, with revenue of $2.48 billion for the quarter, marking a 15.5% increase year-over-year.

Mizuho Markets Americas LLC trimmed its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 54.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,891 shares of the insurance provider's stock after selling 10,480 shares during the quarter. Mizuho Markets Americas LLC's holdings in Cincinnati Financial were worth $1,313,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its stake in shares of Cincinnati Financial by 0.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 135,012 shares of the insurance provider's stock worth $19,401,000 after acquiring an additional 1,037 shares in the last quarter. Cerity Partners LLC lifted its position in Cincinnati Financial by 11.1% in the fourth quarter. Cerity Partners LLC now owns 35,327 shares of the insurance provider's stock valued at $5,039,000 after acquiring an additional 3,539 shares during the last quarter. Argent Trust Co lifted its position in Cincinnati Financial by 22.2% in the fourth quarter. Argent Trust Co now owns 2,320 shares of the insurance provider's stock valued at $333,000 after acquiring an additional 422 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Cincinnati Financial by 48.3% in the fourth quarter. Sterling Capital Management LLC now owns 9,940 shares of the insurance provider's stock valued at $1,428,000 after buying an additional 3,237 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Cincinnati Financial by 2.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 104,246 shares of the insurance provider's stock valued at $14,979,000 after buying an additional 2,410 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CINF. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Roth Capital increased their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, 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 research report on Tuesday, August 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Trading Up 1.0%

Shares of Cincinnati Financial stock traded up $1.51 during trading hours on Tuesday, reaching $151.39. The stock had a trading volume of 423,107 shares, compared to its average volume of 624,708. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 7.43 and a beta of 0.70. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $148.26 and a two-hundred day simple moving average of $143.51.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company's revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. As a group, equities research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

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.