Select Equity Group L.P. Decreases Stake in Cincinnati Financial Corporation $CINF

Key Points

• Select Equity Group L.P. reduced its holdings in Cincinnati Financial Corporation by 54.7% during the first quarter, owning approximately $46.5 million worth of shares at quarter's end.
• Multiple institutional investors, including Spire Wealth Management and Capital Advisors Ltd. LLC, have recently adjusted their stakes, with Spire increasing its investment by 77.6%.
• Analysts have shown confidence in Cincinnati Financial, raising price targets, with Roth Capital setting a new price objective of $175.00 and an overall rating of "Moderate Buy."

Select Equity Group L.P. trimmed its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 54.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,196 shares of the insurance provider's stock after selling 379,908 shares during the quarter. Select Equity Group L.P. owned 0.20% of Cincinnati Financial worth $46,561,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CINF. Spire Wealth Management grew its holdings in shares of Cincinnati Financial by 77.6% during the 1st 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. purchased a new position in shares of Cincinnati Financial in the first quarter valued at $26,000. Alpine Bank Wealth Management bought a new position in Cincinnati Financial in the 1st quarter valued at $30,000. Vermillion & White Wealth Management Group LLC bought a new position in Cincinnati Financial during the first quarter valued at approximately $32,000. Finally, Capital Advisors Ltd. LLC increased its position in shares of Cincinnati Financial by 5,000.0% in the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 250 shares during the period. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Price Performance

CINF stock traded up $0.03 during midday trading on Friday, hitting $156.79. The company's stock had a trading volume of 98,481 shares, compared to its average volume of 662,819. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $24.52 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 7.45 and a beta of 0.72. The company has a 50 day moving average of $151.00 and a two-hundred day moving average of $145.95.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the company posted $1.29 EPS. The company's revenue was up 15.5% compared to the same quarter last year. On average, analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be paid a $0.87 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial's dividend payout ratio is currently 30.18%.

Wall Street Analyst Weigh In

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

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.