Harbour Investments Inc. Sells 101 Shares of Cincinnati Financial Corporation $CINF

Harbour Investments Inc. lessened its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,344 shares of the insurance provider’s stock after selling 101 shares during the quarter. Harbour Investments Inc.’s holdings in Cincinnati Financial were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Cincinnati Financial during the first quarter valued at approximately $337,000. FJ Capital Management LLC grew its stake in Cincinnati Financial by 97.5% in the first quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider’s stock worth $4,327,000 after purchasing an additional 14,464 shares during the period. M&T Bank Corp grew its stake in Cincinnati Financial by 12.7% in the first quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider’s stock worth $1,161,000 after purchasing an additional 887 shares during the period. OLD Republic International Corp grew its stake in Cincinnati Financial by 1.0% in the first quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider’s stock worth $58,955,000 after purchasing an additional 4,000 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in Cincinnati Financial by 8.6% in the first quarter. Asset Management One Co. Ltd. now owns 65,356 shares of the insurance provider’s stock worth $9,654,000 after purchasing an additional 5,159 shares during the period. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CINF. Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Roth Capital upped their price target on Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.25.

Cincinnati Financial Stock Down 0.5%

NASDAQ CINF opened at $155.47 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $166.90. The stock’s 50-day moving average price is $155.77 and its 200-day moving average price is $148.64. The company has a market capitalization of $24.31 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 7.32 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.58. The firm had revenue of $2.48 billion during 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 revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $1.29 earnings per share. On average, equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd were issued a $0.87 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s payout ratio is 30.18%.

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.