Cincinnati Financial Corporation $CINF Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 9.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 360,609 shares of the insurance provider’s stock after selling 36,254 shares during the quarter. California Public Employees Retirement System’s holdings in Cincinnati Financial were worth $56,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Bison Wealth LLC purchased a new position in Cincinnati Financial in the 4th quarter valued at $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cincinnati Financial by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after buying an additional 525 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after buying an additional 173,343 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Cincinnati Financial in the 2nd quarter worth $101,000. Finally, Cerity Partners LLC lifted its stake in shares of Cincinnati Financial by 10.8% in the 2nd quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after acquiring an additional 4,674 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CINF has been the topic of a number of recent analyst reports. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research note on Wednesday. Bank of America dropped their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Piper Sandler boosted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday. Roth Capital increased their target price on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $192.40.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $180.79 on Monday. The firm’s fifty day simple moving average is $171.96 and its 200-day simple moving average is $165.98. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. The stock has a market cap of $27.97 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 3.70 and a beta of 0.54. Cincinnati Financial Corporation has a fifty-two week low of $143.87 and a fifty-two week high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.93 by $0.17. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.24) earnings per share. Analysts expect that Cincinnati Financial Corporation will post 8.76 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.