Allworth Financial LP Decreases Stock Position in Cincinnati Financial Corporation $CINF

Allworth Financial LP reduced its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 24.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,321 shares of the insurance provider’s stock after selling 751 shares during the period. Allworth Financial LP’s holdings in Cincinnati Financial were worth $346,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CINF. Quintet Private Bank Europe S.A. purchased a new position in Cincinnati Financial in the second quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in Cincinnati Financial during the 1st quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at approximately $32,000. AlphaQuest LLC raised its holdings in Cincinnati Financial by 714.3% in the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in Cincinnati Financial by 51.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 282 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 96 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were bought at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the transaction, the director owned 58,482 shares of the company’s stock, valued at $9,005,058.36. This represents a 1.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 2.83% of the stock is owned by insiders.

Cincinnati Financial Stock Down 1.3%

Cincinnati Financial stock opened at $163.90 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.30. The company has a 50-day simple moving average of $157.82 and a 200-day simple moving average of $152.16. The firm has a market capitalization of $25.57 billion, a P/E ratio of 12.19, a P/E/G ratio of 4.27 and a beta of 0.69. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $168.20.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. As a group, equities analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, September 22nd. Cincinnati Financial’s payout ratio is currently 25.89%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CINF. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $177.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Roth Capital reissued a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a report on Tuesday, October 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $171.67.

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.