Peninsula Asset Management Inc. Trims Stake in Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Peninsula Asset Management Inc. reduced its stake in Cincinnati Financial Corporation by 77.8%, selling 24,880 shares and leaving it with 7,120 shares valued at approximately $1,052,000.
• The stock of Cincinnati Financial recently experienced a 1.9% decline, currently trading at $149.51, with a market capitalization of $23.38 billion and a price-to-earnings ratio of 12.97.
• Cincinnati Financial reported $1.97 earnings per share for the last quarter, surpassing analysts' expectations of $1.39, despite revenue being slightly lower than anticipated at $2.48 billion.

Peninsula Asset Management Inc. cut its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 77.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,120 shares of the insurance provider's stock after selling 24,880 shares during the period. Peninsula Asset Management Inc.'s holdings in Cincinnati Financial were worth $1,052,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Spire Wealth Management lifted its position 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 acquiring an additional 76 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Cincinnati Financial during the first quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new stake in Cincinnati Financial during the first quarter valued at about $30,000. GoalVest Advisory LLC grew its stake in shares of Cincinnati Financial by 65.4% during the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock valued at $38,000 after buying an additional 102 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its stake in shares of Cincinnati Financial by 333.3% during the first quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock valued at $38,000 after buying an additional 200 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of CINF stock traded down $1.32 during mid-day trading on Friday, reaching $146.19. 694,651 shares of the company's stock traded hands, compared to its average volume of 569,180. The firm has a market capitalization of $22.86 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 7.46 and a beta of 0.70. 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 firm has a 50 day moving average price of $148.04 and a two-hundred day moving average price of $142.93. 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 quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping the consensus estimate 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 net margin of 15.59% and a return on equity of 7.14%. The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 EPS. On average, research analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, June 23rd. Cincinnati Financial's dividend payout ratio is currently 30.18%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen raised Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $150.00 to $167.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Roth Capital boosted their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $159.20.

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.