Public Employees Retirement System of Ohio Sells 4,265 Shares of Cincinnati Financial Corporation $CINF

Public Employees Retirement System of Ohio cut its position 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 and Exchange Commission (SEC). The firm owned 92,766 shares of the insurance provider’s stock after selling 4,265 shares during the period. Public Employees Retirement System of Ohio owned 0.06% of Cincinnati Financial worth $14,597,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Cincinnati Financial by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider’s stock valued at $3,221,579,000 after acquiring an additional 123,110 shares during the period. State Street Corp raised its position in shares of Cincinnati Financial by 0.3% during the third quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock worth $1,357,825,000 after purchasing an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cincinnati Financial by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock worth $1,083,151,000 after purchasing an additional 97,761 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cincinnati Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock worth $671,265,000 after purchasing an additional 25,888 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Cincinnati Financial by 59.4% in the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after purchasing an additional 784,584 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $182.81 on Monday. The stock has a fifty day simple moving average of $173.56 and a two-hundred day simple moving average of $166.60. Cincinnati Financial Corporation has a 1-year low of $143.87 and a 1-year high of $194.81. The firm has a market cap of $28.28 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 3.74 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06.

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

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were paid 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 presently 21.50%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America dropped their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $201.00 price objective (up from $191.00) on shares of Cincinnati Financial in a research note on Wednesday, July 8th. Piper Sandler raised their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Roth Capital lifted their target price on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average target price of $192.40.

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.