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

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Cincinnati Financial by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider's stock worth $2,844,419,000 after acquiring an additional 87,773 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Cincinnati Financial by 6.0% during the 1st 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 during the period. Invesco Ltd. grew its holdings in shares of Cincinnati Financial by 2.2% during the 1st quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider's stock worth $273,062,000 after acquiring an additional 40,222 shares during the period. GQG Partners LLC purchased a new position in shares of Cincinnati Financial during the 1st quarter worth approximately $270,005,000. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Cincinnati Financial by 4.2% in the 1st quarter. Johnson Investment Counsel Inc. now owns 1,388,176 shares of the insurance provider's stock worth $205,061,000 after purchasing an additional 55,487 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CINF. Roth Capital upped 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. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Stock Up 0.0%

CINF stock traded up $0.01 during midday trading on Friday, hitting $156.77. The company's stock had a trading volume of 98,481 shares, compared to its average volume of 662,819. The company has a market cap of $24.51 billion, a PE ratio of 13.61, a P/E/G ratio of 7.45 and a beta of 0.72. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm's 50-day moving average is $151.00 and its 200-day moving average is $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, beating 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 return on equity of 7.14% and a net margin of 15.59%.The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 EPS. On average, equities research analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

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