Richardson Financial Services Inc. Has $217,000 Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Richardson Financial Services Inc. cut its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 13.7% during the 2nd quarter, HoldingsChannel reports. The fund 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 filing with the SEC.

A number of other hedge funds have also bought and sold shares of CINF. Paces Ferry Wealth Advisors LLC bought a new stake in Cincinnati Financial in the 2nd quarter valued at about $254,000. Waterloo Capital L.P. increased its holdings in shares of 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 period. Vanguard Personalized Indexing Management LLC raised its position in shares of 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 buying an additional 1,105 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Cincinnati Financial by 30.5% in the second 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 period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in Cincinnati Financial by 261.2% during the second 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. 65.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CINF has been the subject of several analyst reports. Bank of America dropped 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 boosted 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. Roth Mkm increased their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $126.00 to $135.00 in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average target price of $133.57.

Cincinnati Financial Stock Up 0.1 %

Shares of NASDAQ CINF opened at $136.30 on Thursday. The company has a market cap of $21.34 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 2.60 and a beta of 0.66. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 12 month low of $96.86 and a 12 month high of $139.34. The stock has a 50-day moving average price of $130.12 and a two-hundred day moving average price of $121.95.

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

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is 21.56%.

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.