Praxis Investment Management Inc. Sells 3,760 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Praxis Investment Management Inc. reduced its stake in Cincinnati Financial Corporation by 34.7%, selling 3,760 shares during the second quarter, leaving it with 7,072 shares valued at approximately $1,053,000.
• Several other investors, including Allianz Asset Management GmbH and AEGON ASSET MANAGEMENT UK Plc, have also adjusted their positions, with substantial increases in their holdings during the same period.
• Cincinnati Financial recently announced a quarterly dividend of $0.87 per share, highlighting a dividend yield of 2.3% and a payout ratio of 30.18%.

Praxis Investment Management Inc. cut its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 34.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,072 shares of the insurance provider's stock after selling 3,760 shares during the quarter. Praxis Investment Management Inc.'s holdings in Cincinnati Financial were worth $1,053,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Allianz Asset Management GmbH raised its position in Cincinnati Financial by 1.7% in the second quarter. Allianz Asset Management GmbH now owns 136,878 shares of the insurance provider's stock valued at $20,384,000 after purchasing an additional 2,236 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of Cincinnati Financial by 3.0% in the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 389,894 shares of the insurance provider's stock valued at $57,931,000 after buying an additional 11,510 shares during the period. Sagespring Wealth Partners LLC increased its stake in shares of Cincinnati Financial by 51.0% in the second quarter. Sagespring Wealth Partners LLC now owns 2,222 shares of the insurance provider's stock valued at $331,000 after buying an additional 750 shares during the period. Boston Trust Walden Corp increased its stake in shares of Cincinnati Financial by 3.6% in the second quarter. Boston Trust Walden Corp now owns 833,789 shares of the insurance provider's stock valued at $124,168,000 after buying an additional 29,012 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Cincinnati Financial in the second quarter valued at about $112,000. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CINF has been the subject of several recent research reports. Roth Capital increased their price target on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.25.

Cincinnati Financial Trading Up 1.1%

NASDAQ CINF opened at $153.02 on Friday. The business has a 50 day simple moving average of $155.54 and a 200 day simple moving average of $148.34. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $166.90. The stock has a market capitalization of $23.93 billion, a P/E ratio of 13.27, a P/E/G ratio of 7.09 and a beta of 0.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

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

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.48 annualized dividend and a yield of 2.3%. Cincinnati Financial's dividend payout ratio (DPR) is currently 30.18%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.