Arizona State Retirement System Sells 3,522 Shares of Cincinnati Financial Corporation $CINF

Arizona State Retirement System lessened its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,746 shares of the insurance provider’s stock after selling 3,522 shares during the quarter. Arizona State Retirement System’s holdings in Cincinnati Financial were worth $6,981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CINF. State Street Corp grew its position in shares of Cincinnati Financial by 0.3% in the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock valued at $1,357,825,000 after acquiring an additional 26,475 shares during the period. Bank of America Corp DE lifted its stake in Cincinnati Financial by 4.2% in the 2nd quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock valued at $299,553,000 after purchasing an additional 80,487 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cincinnati Financial by 3.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,471,628 shares of the insurance provider’s stock worth $232,643,000 after purchasing an additional 46,426 shares during the period. Johnson Investment Counsel Inc. increased its position in Cincinnati Financial by 2.8% during the third quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock worth $222,238,000 after buying an additional 37,913 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its position in Cincinnati Financial by 3.2% during the third quarter. Bahl & Gaynor Inc. now owns 1,207,736 shares of the insurance provider’s stock worth $190,943,000 after buying an additional 37,321 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods dropped their price target on Cincinnati Financial from $191.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Finally, Bank of America cut their price target on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $174.75.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $164.48 on Monday. Cincinnati Financial Corporation has a 12-month low of $132.14 and a 12-month high of $174.27. The company has a market capitalization of $25.61 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 4.34 and a beta of 0.63. The firm has a 50 day moving average price of $162.63 and a two-hundred day moving average price of $162.41. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, beating the consensus estimate of $2.86 by $0.51. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the business earned $3.14 earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, analysts predict that Cincinnati Financial Corporation will post 8.39 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th were given a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 24.79%.

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.