Sepio Capital LP Sells 2,432 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Sepio Capital LP reduced its position in Cincinnati Financial Corporation by 15.6%, ending the first quarter with 13,114 shares valued at approximately $1.94 million.
• Several large investors significantly increased their stakes in the company, including Spire Wealth Management, which raised its holdings by 77.6% during the same period.
• Cincinnati Financial's latest earnings report revealed a 15.5% revenue increase year-over-year, with earnings per share of $1.97, surpassing expectations of $1.39.

Sepio Capital LP cut its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 15.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,114 shares of the insurance provider's stock after selling 2,432 shares during the quarter. Sepio Capital LP's holdings in Cincinnati Financial were worth $1,937,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CINF. GQG Partners LLC purchased a new position in shares of Cincinnati Financial during the first quarter worth approximately $270,005,000. GAMMA Investing LLC raised its stake in shares of Cincinnati Financial by 15,698.7% during the first quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock worth $120,540,000 after acquiring an additional 810,840 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Cincinnati Financial by 558.8% during the first quarter. Raymond James Financial Inc. now owns 540,950 shares of the insurance provider's stock worth $79,909,000 after acquiring an additional 458,841 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cincinnati Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock worth $940,130,000 after acquiring an additional 358,018 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Cincinnati Financial during the first quarter worth approximately $47,070,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Roth Capital lifted their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Trading Up 0.1%

Shares of NASDAQ CINF traded up $0.23 during mid-day trading on Tuesday, hitting $153.69. The stock had a trading volume of 407,968 shares, compared to its average volume of 415,974. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $161.74. The business has a 50 day moving average price of $150.71 and a two-hundred day moving average price of $145.76. The firm has a market cap of $24.03 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 7.51 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued 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 net margin of 15.59% and a return on equity of 7.14%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be issued a $0.87 dividend. The ex-dividend date is Monday, September 22nd. This represents a $3.48 annualized dividend and a yield of 2.3%. Cincinnati Financial's payout ratio is 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.