Kentucky Retirement Systems Has $1.54 Million Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Kentucky Retirement Systems trimmed its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,737 shares of the insurance provider’s stock after selling 148 shares during the period. Kentucky Retirement Systems’ holdings in Cincinnati Financial were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Raymond James & Associates raised its position in Cincinnati Financial by 20.0% during the third quarter. Raymond James & Associates now owns 61,228 shares of the insurance provider’s stock valued at $8,334,000 after purchasing an additional 10,208 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Cincinnati Financial by 3.9% during the third quarter. Sequoia Financial Advisors LLC now owns 2,726 shares of the insurance provider’s stock valued at $371,000 after purchasing an additional 102 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Cincinnati Financial by 39.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 9,865 shares of the insurance provider’s stock valued at $1,343,000 after purchasing an additional 2,785 shares in the last quarter. IFM Investors Pty Ltd raised its position in Cincinnati Financial by 1.1% during the third quarter. IFM Investors Pty Ltd now owns 31,832 shares of the insurance provider’s stock valued at $4,333,000 after purchasing an additional 360 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Cincinnati Financial by 10.6% during 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 purchasing an additional 11,282 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $135.14 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a twelve month low of $109.93 and a twelve month high of $161.74. The stock has a market cap of $21.12 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 8.30 and a beta of 0.71. The company’s fifty day moving average is $140.12 and its 200 day moving average is $140.91.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. Sell-side analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a $0.87 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 annualized dividend and a dividend yield of 2.58%. Cincinnati Financial’s payout ratio is currently 23.97%.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the acquisition, the director now owns 54,500 shares in the company, valued at approximately $8,566,855. The trade was a 1.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on CINF. Roth Mkm boosted their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Piper Sandler upped their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.00.

About Cincinnati Financial

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.