HORAN Wealth LLC Sells 7,452 Shares of Cincinnati Financial Corporation $CINF

HORAN Wealth LLC reduced its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 53.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,448 shares of the insurance provider’s stock after selling 7,452 shares during the period. HORAN Wealth LLC’s holdings in Cincinnati Financial were worth $1,194,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CINF. Geode Capital Management LLC lifted its stake in shares of Cincinnati Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after purchasing an additional 25,888 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Cincinnati Financial in the 2nd quarter worth approximately $3,585,000. GQG Partners LLC bought a new position in shares of Cincinnati Financial during the 2nd quarter valued at approximately $216,679,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Cincinnati Financial during the 4th quarter valued at approximately $1,231,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Cincinnati Financial during the 1st quarter valued at $12,002,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $171.10 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The business’s 50 day moving average price is $177.48 and its 200-day moving average price is $168.96. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The company has a market cap of $26.26 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 3.58 and a beta of 0.53.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the business posted $1.97 earnings per share. On average, sell-side analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 17.74%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Piper Sandler raised their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings cut shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.40.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk Debbink purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.94% of the company’s stock.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.