QRG Capital Management Inc. Lowers Position in Cincinnati Financial Corporation $CINF

Key Points

• QRG Capital Management Inc. has reduced its stake in Cincinnati Financial Corporation by 36.2% to a total of approximately 49,425 shares, worth around $7.36 million.
• Analyst ratings for Cincinnati Financial include an increase in target prices from various firms, with Keefe, Bruyette & Woods setting a new target of $168.00 and Roth Capital at $175.00, indicating a generally positive outlook on the stock.
• The company recently announced a quarterly dividend of $0.87 per share, scheduled for payment on October 15th, reflecting a 2.1% dividend yield.

QRG Capital Management Inc. cut its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 36.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,425 shares of the insurance provider's stock after selling 28,018 shares during the period. QRG Capital Management Inc.'s holdings in Cincinnati Financial were worth $7,360,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new stake in Cincinnati Financial in the second quarter worth about $25,000. Spire Wealth Management lifted its holdings in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after buying an additional 76 shares during the period. Meeder Asset Management Inc. purchased a new stake in Cincinnati Financial in the first quarter worth about $26,000. Alpine Bank Wealth Management bought a new position in shares of Cincinnati Financial during the first quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of Cincinnati Financial during the first quarter valued at approximately $32,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CINF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their target price 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. 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. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cincinnati Financial in a research note on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Trading Up 1.7%

Shares of Cincinnati Financial stock opened at $163.29 on Monday. The company's fifty day simple moving average is $153.62 and its 200-day simple moving average is $147.46. The stock has a market capitalization of $25.53 billion, a PE ratio of 14.16, a P/E/G ratio of 7.99 and a beta of 0.72. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $164.03. 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 issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share 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 company's revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 EPS. As a group, equities analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio (DPR) is currently 30.18%.

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.

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