Retirement Systems of Alabama Has $3.58 Million Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Retirement Systems of Alabama lowered its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,582 shares of the insurance provider’s stock after selling 886 shares during the period. Retirement Systems of Alabama’s holdings in Cincinnati Financial were worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CINF. Criterion Capital Advisors LLC acquired a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC bought a new stake in shares of Cincinnati Financial in the fourth quarter valued at approximately $31,000. NBC Securities Inc. acquired a new stake in Cincinnati Financial during the third quarter worth approximately $39,000. GoalVest Advisory LLC increased its stake in Cincinnati Financial by 122.9% during the 4th quarter. GoalVest Advisory LLC now owns 390 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 215 shares during the period. Finally, GAMMA Investing LLC acquired a new position in Cincinnati Financial in the 4th quarter valued at $74,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CINF has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Piper Sandler reaffirmed a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a report on Monday, April 1st. BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Finally, Citigroup boosted their price objective on shares of Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $124.50.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $117.20 on Wednesday. The company’s 50 day moving average price is $118.30 and its two-hundred day moving average price is $109.90. The firm has a market capitalization of $18.35 billion, a P/E ratio of 7.80, a P/E/G ratio of 2.50 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the company posted $0.89 EPS. Cincinnati Financial’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, equities analysts forecast that Cincinnati Financial Co. will post 6.37 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.81 per share. The ex-dividend date is Tuesday, June 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.76%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Insiders Place Their Bets

In other news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were acquired at an average price of $113.47 per share, with a total value of $113,470.00. Following the completion of the transaction, the director now owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.83% of the company’s stock.

Cincinnati Financial Company 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.