State of New Jersey Common Pension Fund D Decreases Stake in Cincinnati Financial Co. (NASDAQ:CINF)

State of New Jersey Common Pension Fund D lowered its stake in Cincinnati Financial Co. (NASDAQ:CINFFree Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 87,311 shares of the insurance provider’s stock after selling 1,181 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cincinnati Financial were worth $8,931,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. United Capital Financial Advisers LLC increased its stake in shares of Cincinnati Financial by 0.9% during the first quarter. United Capital Financial Advisers LLC now owns 9,645 shares of the insurance provider’s stock valued at $1,311,000 after buying an additional 87 shares during the period. Octavia Wealth Advisors LLC grew its stake in Cincinnati Financial by 0.9% in the third quarter. Octavia Wealth Advisors LLC now owns 11,258 shares of the insurance provider’s stock worth $1,160,000 after purchasing an additional 101 shares during the period. Guardian Wealth Advisors LLC grew its stake in Cincinnati Financial by 1.4% in the second quarter. Guardian Wealth Advisors LLC now owns 7,655 shares of the insurance provider’s stock worth $745,000 after purchasing an additional 102 shares during the period. Regal Investment Advisors LLC grew its stake in Cincinnati Financial by 0.3% in the second quarter. Regal Investment Advisors LLC now owns 30,127 shares of the insurance provider’s stock worth $2,932,000 after purchasing an additional 102 shares during the period. Finally, Allworth Financial LP grew its stake in Cincinnati Financial by 2.0% in the third quarter. Allworth Financial LP now owns 5,316 shares of the insurance provider’s stock worth $544,000 after purchasing an additional 105 shares during the period. 64.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CINF. Piper Sandler upped their price target on Cincinnati Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Citigroup assumed coverage on Cincinnati Financial in a research note on Wednesday, November 22nd. They issued a “neutral” rating and a $110.00 target price on the stock. Janney Montgomery Scott assumed coverage on Cincinnati Financial in a research note on Thursday, December 14th. They issued a “neutral” rating and a $110.00 target price on the stock. Oppenheimer assumed coverage on Cincinnati Financial in a research note on Thursday, November 16th. They issued a “market perform” rating on the stock. Finally, TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $113.67.

Check Out Our Latest Stock Report on Cincinnati Financial

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $108.89 on Monday. The stock has a market capitalization of $17.09 billion, a PE ratio of 9.33, a P/E/G ratio of 2.49 and a beta of 0.63. The business has a 50 day simple moving average of $106.64 and a two-hundred day simple moving average of $104.71. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.28. Cincinnati Financial Co. has a 1-year low of $95.01 and a 1-year high of $127.77.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.33. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $2.02 billion. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.27 EPS. On average, research analysts predict that Cincinnati Financial Co. will post 6.14 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, March 19th will be paid a dividend of $0.81 per share. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Monday, March 18th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 25.71%.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was purchased at an average cost of $102.98 per share, with a total value of $205,960.00. Following the purchase, the director now owns 51,542 shares of the company’s stock, valued at $5,307,795.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.84% of the stock is owned by corporate insiders.

Cincinnati Financial Profile

(Free Report)

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company 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.

See Also

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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