California Public Employees Retirement System Raises Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

California Public Employees Retirement System grew its position in Cincinnati Financial Co. (NASDAQ:CINF) by 33.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 668,341 shares of the insurance provider’s stock after acquiring an additional 167,898 shares during the quarter. California Public Employees Retirement System owned about 0.43% of Cincinnati Financial worth $96,041,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in Cincinnati Financial during the 4th quarter worth $223,959,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Cincinnati Financial by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider’s stock valued at $863,099,000 after buying an additional 224,033 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Cincinnati Financial by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider’s stock worth $2,754,399,000 after buying an additional 173,417 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Cincinnati Financial by 49.5% during the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after buying an additional 147,542 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Cincinnati Financial by 3,381.8% in the 4th quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider’s stock valued at $20,228,000 after acquiring an additional 136,725 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CINF shares. Roth Mkm lifted their target price on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average target price of $154.20.

Cincinnati Financial Stock Up 1.5 %

Cincinnati Financial stock opened at $147.72 on Tuesday. The stock’s 50 day moving average price is $140.71 and its 200 day moving average price is $142.88. Cincinnati Financial Co. has a 1-year low of $109.93 and a 1-year high of $161.75. The company has a market cap of $23.13 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31.

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

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 23.97%.

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.