New York State Common Retirement Fund Has $11.38 Million Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

New York State Common Retirement Fund lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,173 shares of the insurance provider’s stock after selling 4,000 shares during the period. New York State Common Retirement Fund owned 0.05% of Cincinnati Financial worth $11,377,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new position in shares of Cincinnati Financial in the 3rd quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Cincinnati Financial during the 4th quarter worth approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in Cincinnati Financial in the third quarter valued at $28,000. Y.D. More Investments Ltd raised its position in Cincinnati Financial by 121.8% during the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 106 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in Cincinnati Financial during the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 1.5 %

NASDAQ CINF opened at $137.13 on Tuesday. Cincinnati Financial Co. has a one year low of $109.93 and a one year high of $161.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. The business has a 50 day simple moving average of $139.81 and a 200 day simple moving average of $140.98. The stock has a market capitalization of $21.44 billion, a P/E ratio of 9.44, a P/E/G ratio of 8.30 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 EPS 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%. Research analysts expect that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 annualized dividend and a dividend yield of 2.54%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio is currently 23.97%.

Insider Transactions at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the acquisition, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.83% of the company’s stock.

Analyst Ratings Changes

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

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.