Kentucky Retirement Systems Cuts Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Kentucky Retirement Systems lessened its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 7.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,885 shares of the insurance provider’s stock after selling 913 shares during the quarter. Kentucky Retirement Systems’ holdings in Cincinnati Financial were worth $1,482,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vest Financial LLC lifted its stake in Cincinnati Financial by 14.0% in the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after acquiring an additional 46,530 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Cincinnati Financial by 91.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock worth $14,016,000 after purchasing an additional 56,686 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Cincinnati Financial by 165.4% during the first quarter. Advisors Asset Management Inc. now owns 7,792 shares of the insurance provider’s stock worth $968,000 after purchasing an additional 4,856 shares in the last quarter. Amalgamated Bank increased its holdings in 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Cincinnati Financial by 10.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock valued at $15,923,000 after buying an additional 11,282 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Up 0.2 %

Shares of NASDAQ:CINF opened at $152.13 on Tuesday. The stock has a market cap of $23.78 billion, a P/E ratio of 7.82, a P/E/G ratio of 2.89 and a beta of 0.65. The firm has a fifty day moving average price of $139.84 and a 200 day moving average price of $128.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Co. has a 1-year low of $99.61 and a 1-year high of $152.85.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Cincinnati Financial’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company posted $1.66 EPS. Sell-side analysts predict that Cincinnati Financial Co. will post 6.32 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.13%. Cincinnati Financial’s payout ratio is currently 16.65%.

Wall Street Analyst Weigh In

CINF has been the topic of a number of recent analyst reports. Roth Mkm increased their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Bank of America boosted their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Piper Sandler increased their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.57.

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.