Richardson Financial Services Inc. Sells 291 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Richardson Financial Services Inc. cut its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 13.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,840 shares of the insurance provider’s stock after selling 291 shares during the quarter. Richardson Financial Services Inc.’s holdings in Cincinnati Financial were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CINF. Paces Ferry Wealth Advisors LLC bought a new position in shares of Cincinnati Financial during the 2nd quarter worth approximately $254,000. Waterloo Capital L.P. boosted its holdings in Cincinnati Financial by 24.9% during the second quarter. Waterloo Capital L.P. now owns 6,469 shares of the insurance provider’s stock worth $764,000 after purchasing an additional 1,290 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Cincinnati Financial by 11.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,709 shares of the insurance provider’s stock valued at $1,242,000 after purchasing an additional 1,105 shares in the last quarter. Amalgamated Bank increased its stake in Cincinnati Financial by 30.5% in the 2nd quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock valued at $4,976,000 after buying an additional 9,854 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in Cincinnati Financial by 261.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,508 shares of the insurance provider’s stock worth $1,595,000 after buying an additional 9,768 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 0.1 %

CINF stock opened at $136.30 on Thursday. Cincinnati Financial Co. has a 1-year low of $96.86 and a 1-year high of $139.34. The business’s 50 day simple moving average is $130.12 and its 200 day simple moving average is $121.95. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $21.34 billion, a PE ratio of 9.07, a PEG ratio of 2.60 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating the consensus estimate of $0.96 by $0.33. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. As a group, research analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.38%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Analyst Ratings Changes

CINF has been the subject of several analyst reports. Bank of America decreased their price objective on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, Roth Mkm raised their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average target price of $133.57.

About Cincinnati Financial

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.