Prudential PLC Has $346,000 Stock Position in Cincinnati Financial Corporation $CINF

Key Points

• Prudential PLC reduced its stake in Cincinnati Financial Corporation by 44.5% in Q1, now holding shares worth $346,000 after selling 1,873 shares during the quarter.
• Multiple institutional investors have increased their positions in Cincinnati Financial, with M&T Bank Corp raising its holdings by 12.7%, now worth $1,161,000.
• Cincinnati Financial reported a $1.97 EPS, exceeding the consensus estimates, although revenue fell short of expectations at $2.48 billion.

Prudential PLC lessened its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 44.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,339 shares of the insurance provider's stock after selling 1,873 shares during the period. Prudential PLC's holdings in Cincinnati Financial were worth $346,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Spire Wealth Management grew its stake 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 valued at $26,000 after purchasing an additional 76 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Cincinnati Financial during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new position in shares of Cincinnati Financial during the first quarter valued at $30,000. GoalVest Advisory LLC lifted 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 acquiring an additional 102 shares during the period. Finally, Whipplewood Advisors LLC boosted its holdings 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 acquiring an additional 200 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CINF. Roth Capital raised their target price on shares of 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 raised their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Stock Up 1.7%

CINF stock traded up $2.59 during trading hours on Tuesday, reaching $152.38. 542,880 shares of the stock were exchanged, compared to its average volume of 601,743. The company has a market cap of $23.83 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 7.43 and a beta of 0.70. The firm's 50-day moving average is $148.56 and its 200-day moving average is $143.97. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74. 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 posted 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. 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 the consensus estimate of $2.80 billion. During the same period last year, the company earned $1.29 earnings per share. Cincinnati Financial's quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

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.