Northern Trust Corp Has $242.69 Million Stake in Cincinnati Financial Corporation $CINF

Key Points

• Northern Trust Corp reduced its stake in Cincinnati Financial Corporation by 1.8%, owning 1,642,902 shares worth approximately $242.69 million at the end of Q1.
• Cincinnati Financial recently reported earnings of $1.97 per share, exceeding the analysts' consensus estimate of $1.39, with quarterly revenue increasing by 15.5% year-over-year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Cincinnati Financial, with an average price target of $159.40 after some firms raised their price objectives recently.

Northern Trust Corp lowered its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,642,902 shares of the insurance provider's stock after selling 29,308 shares during the quarter. Northern Trust Corp owned 1.05% of Cincinnati Financial worth $242,689,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. M&T Bank Corp grew its holdings in shares of Cincinnati Financial by 12.7% in the first quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider's stock valued at $1,161,000 after acquiring an additional 887 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Cincinnati Financial by 4.1% in the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after purchasing an additional 94 shares during the period. OLD Republic International Corp increased its position in shares of Cincinnati Financial by 1.0% during the 1st quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider's stock valued at $58,955,000 after purchasing an additional 4,000 shares during the last quarter. Merit Financial Group LLC raised its stake in shares of Cincinnati Financial by 88.4% during the 1st quarter. Merit Financial Group LLC now owns 8,047 shares of the insurance provider's stock worth $1,189,000 after purchasing an additional 3,776 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Cincinnati Financial by 8.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 65,356 shares of the insurance provider's stock worth $9,654,000 after buying an additional 5,159 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective 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. Roth Capital increased their target price 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. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $153.65 on Thursday. The firm has a market capitalization of $24.03 billion, a PE ratio of 13.33, a P/E/G ratio of 7.46 and a beta of 0.70. 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 company has a 50-day moving average price of $148.69 and a two-hundred day moving average price of $144.04. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 EPS. Equities analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

About Cincinnati Financial

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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