State of Alaska Department of Revenue Has $2.71 Million Holdings in Cincinnati Financial Corporation (NASDAQ:CINF)

State of Alaska Department of Revenue boosted its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,324 shares of the insurance provider’s stock after purchasing an additional 500 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cincinnati Financial were worth $2,706,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CINF. Norges Bank acquired a new position in Cincinnati Financial during the fourth quarter worth about $223,959,000. GAMMA Investing LLC boosted its holdings in Cincinnati Financial by 15,698.7% in the first quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider’s stock valued at $120,540,000 after acquiring an additional 810,840 shares during the last quarter. Topsail Wealth Management LLC bought a new stake in Cincinnati Financial in the fourth quarter valued at approximately $47,114,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Cincinnati Financial by 62.6% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider’s stock valued at $90,166,000 after acquiring an additional 241,540 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in 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 acquiring an additional 224,033 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $145.44 on Friday. The business has a 50 day moving average of $144.02 and a 200 day moving average of $142.40. The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 9.66 and a beta of 0.78. Cincinnati Financial Corporation has a 1-year low of $113.70 and a 1-year high of $161.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.37. Cincinnati Financial had a return on equity of 6.55% and a net margin of 13.19%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the firm earned $1.72 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, sell-side analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.87 per share. The ex-dividend date is Monday, June 23rd. This represents a $3.48 annualized dividend and a dividend yield of 2.39%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 37.95%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CINF shares. Keefe, Bruyette & Woods cut their price target on Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Wall Street Zen raised Cincinnati Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and a consensus target price of $147.40.

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.