Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 7.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,924 shares of the insurance provider’s stock after selling 6,614 shares during the period. Public Employees Retirement System of Ohio’s holdings in Cincinnati Financial were worth $10,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CINF. Assetmark Inc. grew its position in Cincinnati Financial by 252.2% in the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 174 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in Cincinnati Financial in the 4th quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in Cincinnati Financial during the 4th quarter worth $31,000. Future Financial Wealth Managment LLC acquired a new position in shares of Cincinnati Financial during the first quarter valued at $47,000. Finally, Principal Securities Inc. bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $55,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on CINF shares. Bank of America raised their target price on shares of Cincinnati Financial from $143.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $126.00 to $135.00 in a research report on Friday, June 28th. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Roth Mkm upped their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $116.00 target price on shares of Cincinnati Financial in a report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.57.

Cincinnati Financial Stock Up 2.0 %

NASDAQ:CINF traded up $2.49 during trading hours on Monday, hitting $126.45. 647,292 shares of the stock traded hands, compared to its average volume of 781,085. The firm has a 50 day moving average price of $117.67 and a 200 day moving average price of $116.26. The firm has a market cap of $19.76 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 2.69 and a beta of 0.65. Cincinnati Financial Co. has a fifty-two week low of $96.86 and a fifty-two week high of $128.23. 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 (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.33. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.21 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. Equities research analysts anticipate that Cincinnati Financial Co. will post 6.25 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th were paid a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $3.24 dividend on an annualized basis and a yield of 2.56%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 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.