Stock Yards Bank & Trust Co. Sells 3,000 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Stock Yards Bank & Trust Co. cut its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 18.8% during the second quarter, HoldingsChannel reports. The firm owned 12,945 shares of the insurance provider’s stock after selling 3,000 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Cincinnati Financial were worth $1,529,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Assetmark Inc. lifted its stake in Cincinnati Financial by 252.2% in the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC purchased a new stake in Cincinnati Financial in the second quarter worth about $29,000. Raleigh Capital Management Inc. purchased a new stake in Cincinnati Financial in the fourth quarter worth about $31,000. Future Financial Wealth Managment LLC purchased a new stake in Cincinnati Financial in the first quarter worth about $47,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Cincinnati Financial in the second quarter worth about $49,000. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CINF shares. Citigroup raised shares of 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. Bank of America lowered their price objective on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Roth Mkm upped 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, Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Stock Performance

CINF stock opened at $136.17 on Wednesday. The firm has a market cap of $21.32 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 2.60 and a beta of 0.66. The firm has a 50-day simple moving average of $129.78 and a two-hundred day simple moving average of $121.84. Cincinnati Financial Co. has a one year low of $96.86 and a one year high of $139.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last announced 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 during the quarter, compared to analyst estimates of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. Cincinnati Financial’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. On average, equities analysts forecast that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

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

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.