California Public Employees Retirement System Decreases Holdings in Cincinnati Financial Corporation $CINF

California Public Employees Retirement System reduced its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 360,609 shares of the insurance provider’s stock after selling 36,254 shares during the quarter. California Public Employees Retirement System owned approximately 0.23% of Cincinnati Financial worth $56,742,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bison Wealth LLC purchased a new position in Cincinnati Financial in the fourth quarter valued at approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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. lifted its position in shares of 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 position in shares of Cincinnati Financial in the 2nd quarter valued at $101,000. Finally, Cerity Partners LLC boosted its holdings 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 valued at $7,115,000 after buying an additional 4,674 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

CINF has been the topic of several research analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research note on Wednesday, July 8th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research note on Wednesday. Roth Capital raised their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Piper Sandler lifted 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. Finally, Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.40.

Cincinnati Financial Price Performance

CINF stock opened at $180.79 on Monday. The company has a market cap of $27.97 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 3.70 and a beta of 0.54. The company has a fifty day moving average price of $171.96 and a 200 day moving average price of $165.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. Cincinnati Financial Corporation has a 12 month low of $143.87 and a 12 month high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.17. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. Cincinnati Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm posted ($0.24) EPS. Sell-side analysts expect that Cincinnati Financial Corporation will post 8.76 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

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

About Cincinnati Financial

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.