Retirement Systems of Alabama Trims Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Retirement Systems of Alabama lowered its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,582 shares of the insurance provider’s stock after selling 886 shares during the quarter. Retirement Systems of Alabama’s holdings in Cincinnati Financial were worth $3,578,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Octavia Wealth Advisors LLC raised its holdings in shares of Cincinnati Financial by 0.9% in the 3rd quarter. Octavia Wealth Advisors LLC now owns 11,258 shares of the insurance provider’s stock valued at $1,160,000 after purchasing an additional 101 shares in the last quarter. Pinion Investment Advisors LLC increased its position in Cincinnati Financial by 2.9% during the 4th quarter. Pinion Investment Advisors LLC now owns 3,613 shares of the insurance provider’s stock valued at $374,000 after buying an additional 101 shares in the last quarter. Belpointe Asset Management LLC raised its stake in Cincinnati Financial by 3.0% in the third quarter. Belpointe Asset Management LLC now owns 3,568 shares of the insurance provider’s stock valued at $365,000 after buying an additional 103 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Cincinnati Financial by 11.6% during the fourth quarter. UMB Bank n.a. now owns 1,004 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 104 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Cincinnati Financial by 2.0% during the third quarter. Allworth Financial LP now owns 5,316 shares of the insurance provider’s stock worth $544,000 after acquiring an additional 105 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Piper Sandler reissued a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research report on Monday, April 1st. Citigroup lifted their price target on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $125.00 to $135.00 in a report on Monday, March 25th. Finally, TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $124.50.

Insider Activity

In related news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction dated Monday, April 29th. The shares were acquired at an average cost of $113.47 per share, for a total transaction of $113,470.00. Following the acquisition, the director now directly owns 53,988 shares in the company, valued at approximately $6,126,018.36. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.83% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $117.20 on Wednesday. The company has a market capitalization of $18.35 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 2.50 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.26 and a current ratio of 0.26. The company’s fifty day moving average price is $118.30 and its 200 day moving average price is $109.90. Cincinnati Financial Co. has a 1 year low of $95.01 and a 1 year high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. Cincinnati Financial’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 earnings per share. On average, research analysts predict that Cincinnati Financial Co. will post 6.37 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be given a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $3.24 annualized dividend and a dividend yield of 2.76%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 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.