California Public Employees Retirement System Grows Stake in Cincinnati Financial Co. (NASDAQ:CINF)

California Public Employees Retirement System grew its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 559,675 shares of the insurance provider’s stock after acquiring an additional 6,527 shares during the quarter. California Public Employees Retirement System owned about 0.36% of Cincinnati Financial worth $57,904,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. London Co. of Virginia boosted its holdings in Cincinnati Financial by 7.8% in the 3rd quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock valued at $283,658,000 after purchasing an additional 200,414 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Cincinnati Financial by 2.0% during the 3rd quarter. Northern Trust Corp now owns 1,732,270 shares of the insurance provider’s stock worth $177,194,000 after acquiring an additional 33,942 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Cincinnati Financial by 2.6% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,353,199 shares of the insurance provider’s stock worth $138,419,000 after acquiring an additional 34,880 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Cincinnati Financial by 2.9% during the 3rd quarter. Invesco Ltd. now owns 1,287,675 shares of the insurance provider’s stock worth $131,716,000 after acquiring an additional 36,759 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Cincinnati Financial by 3.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,245,242 shares of the insurance provider’s stock worth $127,376,000 after acquiring an additional 36,024 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 1.2 %

Shares of Cincinnati Financial stock opened at $118.44 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a 1 year low of $95.01 and a 1 year high of $124.35. The company has a market capitalization of $18.55 billion, a P/E ratio of 10.15, a P/E/G ratio of 2.42 and a beta of 0.63. The business has a 50 day moving average price of $117.73 and a 200 day moving average price of $109.02.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, April 25th. The insurance provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.03. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. Cincinnati Financial’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. Sell-side analysts anticipate that Cincinnati Financial Co. will post 6.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CINF shares. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. Piper Sandler reissued a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a research note on Monday, April 1st. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Finally, Citigroup boosted their price target on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $123.57.

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.