Public Employees Retirement System of Ohio Reduces Stake in Cincinnati Financial Corporation $CINF

Public Employees Retirement System of Ohio lowered its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,766 shares of the insurance provider’s stock after selling 4,265 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Cincinnati Financial were worth $14,597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lodestone Wealth Management LLC bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $25,000. Motiv8 Investments LLC bought a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $29,000. Cassaday & Co Wealth Management LLC purchased a new position in Cincinnati Financial during the first quarter valued at approximately $34,000. DV Equities LLC purchased a new position in Cincinnati Financial during the fourth quarter valued at approximately $36,000. Finally, Legacy Wealth Managment LLC ID increased its holdings in Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CINF shares. Bank of America lowered their price target on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Roth Capital upped their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Piper Sandler increased their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.40.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $182.81 on Monday. The company has a market capitalization of $28.28 billion, a P/E ratio of 10.45, a PEG ratio of 3.74 and a beta of 0.54. Cincinnati Financial Corporation has a fifty-two week low of $143.87 and a fifty-two week high of $194.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50 day moving average price of $173.56 and a two-hundred day moving average price of $166.60.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the firm posted ($0.24) earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts expect that Cincinnati Financial Corporation will post 8.76 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is currently 21.50%.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.