Northern Trust Corp Trims Stock Holdings 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 decreased its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of CINF. Spire Wealth Management lifted its position in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 76 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Cincinnati Financial in the first quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new stake in Cincinnati Financial in the first quarter valued at approximately $30,000. GoalVest Advisory LLC lifted its position in Cincinnati Financial by 65.4% in the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 102 shares during the last quarter. Finally, Whipplewood Advisors LLC lifted its position in Cincinnati Financial by 333.3% in the first quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

CINF has been the subject of several recent research reports. Roth Capital boosted their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Trading Up 0.2%

Shares of Cincinnati Financial stock traded up $0.28 during midday trading on Tuesday, reaching $153.59. 557,341 shares of the company's stock traded hands, compared to its average volume of 588,797. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $24.02 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 7.50 and a beta of 0.70. The stock has a 50 day moving average of $149.26 and a 200-day moving average of $144.56. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.58. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. As a group, equities analysts expect 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. Investors of record on Monday, September 22nd will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is currently 30.18%.

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.