Cincinnati Financial Corporation $CINF Shares Sold by Topsail Wealth Management LLC

Topsail Wealth Management LLC cut its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 317,002 shares of the insurance provider’s stock after selling 9,012 shares during the period. Cincinnati Financial makes up about 8.6% of Topsail Wealth Management LLC’s investment portfolio, making the stock its 3rd largest holding. Topsail Wealth Management LLC owned about 0.20% of Cincinnati Financial worth $47,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. ORG Partners LLC boosted its position in shares of Cincinnati Financial by 5.0% during the second quarter. ORG Partners LLC now owns 1,509 shares of the insurance provider’s stock worth $226,000 after buying an additional 72 shares during the period. Spire Wealth Management raised its holdings in Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 76 shares in the last quarter. Forum Financial Management LP raised its holdings in Cincinnati Financial by 2.1% during the second quarter. Forum Financial Management LP now owns 3,949 shares of the insurance provider’s stock worth $588,000 after purchasing an additional 80 shares in the last quarter. 3Chopt Investment Partners LLC raised its holdings in Cincinnati Financial by 5.7% during the second quarter. 3Chopt Investment Partners LLC now owns 1,641 shares of the insurance provider’s stock worth $246,000 after purchasing an additional 89 shares in the last quarter. Finally, Brass Tax Wealth Management Inc. raised its holdings in Cincinnati Financial by 5.2% during the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider’s stock worth $279,000 after purchasing an additional 94 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on CINF. Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a report on Friday. Roth Capital boosted their target price on Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.25.

Cincinnati Financial Price Performance

NASDAQ CINF opened at $156.67 on Friday. The stock has a market capitalization of $24.50 billion, a P/E ratio of 13.59, a P/E/G ratio of 7.01 and a beta of 0.72. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $166.90. The business’s fifty day moving average is $155.91 and its two-hundred day moving average is $149.19. 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 (NASDAQ:CINF) last posted its quarterly earnings results 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 company 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 revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. On average, research analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were issued a $0.87 dividend. The ex-dividend date of this dividend was 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%.

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.