Mizuho Securities USA LLC Sells 2,292 Shares of Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Cincinnati Financial Corporation by 15.5% in the first quarter, now owning 12,523 shares valued at $1,850,000.
• Several other institutional investors, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., have increased their stakes in Cincinnati Financial, indicating strong institutional interest in the stock.
• Research analysts have a generally positive outlook on Cincinnati Financial, with an average rating of "Moderate Buy" and an increased target price now averaging $159.40.

Mizuho Securities USA LLC reduced its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,523 shares of the insurance provider's stock after selling 2,292 shares during the period. Mizuho Securities USA LLC's holdings in Cincinnati Financial were worth $1,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Park National Corp OH grew its holdings in shares of Cincinnati Financial by 0.6% during the first quarter. Park National Corp OH now owns 12,686 shares of the insurance provider's stock worth $1,874,000 after purchasing an additional 72 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after purchasing an additional 76 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Cincinnati Financial by 0.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider's stock worth $2,871,000 after purchasing an additional 91 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in shares of Cincinnati Financial by 4.1% during the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock worth $352,000 after purchasing an additional 94 shares during the last quarter. Finally, Brass Tax Wealth Management Inc. lifted its stake in shares of Cincinnati Financial by 5.2% in the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider's stock worth $279,000 after acquiring an additional 94 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Trading Down 2.0%

CINF traded down $3.09 during trading on Friday, hitting $151.06. The company's stock had a trading volume of 760,775 shares, compared to its average volume of 598,658. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $161.74. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock's fifty day moving average price is $148.43 and its 200-day moving average price is $143.75. The firm has a market capitalization of $23.62 billion, a P/E ratio of 13.10, a PEG ratio of 7.64 and a beta of 0.70.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CINF shares. Roth Capital lifted their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial has an average rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Company 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.