State Board of Administration of Florida Retirement System Reduces Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

State Board of Administration of Florida Retirement System lessened its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINFFree Report) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,668 shares of the insurance provider’s stock after selling 5,010 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of Cincinnati Financial worth $18,276,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Providence Capital Advisors LLC boosted its holdings in Cincinnati Financial by 11,107.1% in the first quarter. Providence Capital Advisors LLC now owns 3,138 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 3,110 shares in the last quarter. AM Squared Ltd acquired a new stake in Cincinnati Financial in the 1st quarter worth approximately $34,000. Clear Street Markets LLC grew its position in Cincinnati Financial by 93.1% during the 1st quarter. Clear Street Markets LLC now owns 309 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 149 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new stake in Cincinnati Financial during the 4th quarter worth approximately $37,000. Finally, NBC Securities Inc. acquired a new position in Cincinnati Financial during the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 64.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CINF. Citigroup started coverage on shares of Cincinnati Financial in a research note on Wednesday, November 22nd. They set a “neutral” rating and a $110.00 price objective for the company. Piper Sandler increased their price objective on Cincinnati Financial from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, October 30th. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday. Janney Montgomery Scott began coverage on Cincinnati Financial in a research report on Thursday, December 14th. They issued a “neutral” rating and a $110.00 target price on the stock. Finally, Oppenheimer initiated coverage on shares of Cincinnati Financial in a research report on Thursday, November 16th. They set a “market perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.67.

Get Our Latest Stock Report on Cincinnati Financial

Cincinnati Financial Stock Up 1.2 %

Shares of CINF stock opened at $108.89 on Friday. Cincinnati Financial Co. has a twelve month low of $95.01 and a twelve month high of $127.77. The stock has a market cap of $17.09 billion, a P/E ratio of 9.33, a P/E/G ratio of 2.51 and a beta of 0.63. The stock has a 50 day moving average of $106.64 and a 200 day moving average of $104.70. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last posted its earnings results on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the firm earned $1.27 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Cincinnati Financial Co. will post 6.14 EPS for the current year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th will be given a $0.81 dividend. The ex-dividend date of this dividend is Monday, March 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s dividend payout ratio is 25.71%.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was purchased at an average price of $102.98 per share, for a total transaction of $205,960.00. Following the purchase, the director now directly owns 51,542 shares in the company, valued at $5,307,795.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.95% of the company’s stock.

Cincinnati Financial Profile

(Free Report)

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company 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.

See Also

Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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