Kentucky Retirement Systems Trims Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Kentucky Retirement Systems lessened its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,885 shares of the insurance provider’s stock after selling 913 shares during the period. Kentucky Retirement Systems’ holdings in Cincinnati Financial were worth $1,482,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CINF. UMB Bank n.a. lifted its stake in Cincinnati Financial by 7.4% in the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock worth $155,000 after purchasing an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cincinnati Financial by 1.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock valued at $761,000 after purchasing an additional 80 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares in the last quarter. Hartford Investment Management Co. grew its holdings in Cincinnati Financial by 0.8% in the 3rd quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider’s stock valued at $1,384,000 after buying an additional 80 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its stake in shares of Cincinnati Financial by 4.3% in the 2nd quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock worth $271,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CINF. Bank of America boosted their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Piper Sandler increased their price target 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. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Roth Mkm increased their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Stock Up 0.2 %

Cincinnati Financial stock opened at $152.13 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a 50 day moving average price of $139.84 and a 200 day moving average price of $128.56. Cincinnati Financial Co. has a fifty-two week low of $99.61 and a fifty-two week high of $152.85. The company has a market capitalization of $23.78 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Research analysts expect that Cincinnati Financial Co. will post 6.32 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.13%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 16.65%.

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.