Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,181 shares of the insurance provider’s stock after selling 409 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cincinnati Financial were worth $643,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Cincinnati Financial in the fourth quarter worth $179,305,000. Los Angeles Capital Management LLC raised its holdings in shares of Cincinnati Financial by 16.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,295,928 shares of the insurance provider’s stock worth $134,077,000 after acquiring an additional 186,629 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cincinnati Financial by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,093,275 shares of the insurance provider’s stock worth $113,110,000 after acquiring an additional 54,687 shares during the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of Cincinnati Financial by 0.3% in the first quarter. Bahl & Gaynor Inc. now owns 1,008,406 shares of the insurance provider’s stock worth $125,214,000 after acquiring an additional 3,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cincinnati Financial by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 909,126 shares of the insurance provider’s stock worth $94,058,000 after acquiring an additional 31,581 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CINF shares. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Roth Mkm upped their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Bank of America upped their target price on Cincinnati Financial from $143.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research note on Monday, April 1st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.57.

Insider Activity

In related news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction dated Monday, April 29th. The stock was acquired at an average price of $113.47 per share, for a total transaction of $113,470.00. Following the completion of the purchase, the director now owns 53,988 shares in the company, valued at $6,126,018.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.83% of the company’s stock.

Cincinnati Financial Trading Up 3.0 %

NASDAQ:CINF traded up $3.66 on Friday, hitting $123.96. 889,459 shares of the stock were exchanged, compared to its average volume of 752,759. The stock has a market cap of $19.41 billion, a PE ratio of 8.25, a PEG ratio of 2.69 and a beta of 0.65. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $117.67 and a 200-day moving average of $116.20. Cincinnati Financial Co. has a fifty-two week low of $96.86 and a fifty-two week high of $128.23.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, topping the consensus estimate of $0.96 by $0.33. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.21 billion. Cincinnati Financial had a return on equity of 9.29% and a net margin of 20.20%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. As a group, equities analysts expect that Cincinnati Financial Co. will post 6.25 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th were paid a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.61%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.56%.

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.