Truist Financial Corp Has $2.48 Million Stock Holdings in Cincinnati Financial Corporation $CINF

Truist Financial Corp lessened its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 16,633 shares of the insurance provider’s stock after selling 503 shares during the period. Truist Financial Corp’s holdings in Cincinnati Financial were worth $2,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in Cincinnati Financial by 0.3% during the second quarter. Janney Montgomery Scott LLC now owns 113,825 shares of the insurance provider’s stock valued at $16,951,000 after acquiring an additional 376 shares during the period. Venture Visionary Partners LLC increased its stake in Cincinnati Financial by 2.2% during the second quarter. Venture Visionary Partners LLC now owns 57,973 shares of the insurance provider’s stock valued at $8,633,000 after acquiring an additional 1,248 shares during the period. ORG Partners LLC increased its stake in Cincinnati Financial by 5.0% during the second quarter. ORG Partners LLC now owns 1,509 shares of the insurance provider’s stock valued at $226,000 after acquiring an additional 72 shares during the period. Patton Fund Management Inc. bought a new position in Cincinnati Financial during the second quarter valued at about $245,000. Finally, American National Bank & Trust bought a new position in Cincinnati Financial during the second quarter valued at about $506,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Down 2.3%

NASDAQ CINF opened at $161.68 on Friday. The firm has a market cap of $25.28 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 8.09 and a beta of 0.72. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $166.90. The stock’s 50 day simple moving average is $154.85 and its 200 day simple moving average is $147.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.58. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.Cincinnati Financial’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.29 EPS. As a group, sell-side analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.87 per share. 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 currently 30.18%.

Analyst Upgrades and Downgrades

CINF has been the topic of several research reports. Roth Capital boosted their price target on Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday. Finally, Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.25.

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.