Public Sector Pension Investment Board Purchases 700 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Public Sector Pension Investment Board lifted its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,216 shares of the insurance provider’s stock after purchasing an additional 700 shares during the period. Public Sector Pension Investment Board’s holdings in Cincinnati Financial were worth $3,705,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Cincinnati Financial by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after acquiring an additional 1,218,919 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in Cincinnati Financial by 1.1% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock valued at $178,845,000 after purchasing an additional 16,451 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cincinnati Financial by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after purchasing an additional 187,934 shares during the period. Bahl & Gaynor Inc. increased its position in Cincinnati Financial by 10.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after buying an additional 107,081 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after buying an additional 277,550 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the subject of a number of recent research reports. Bank of America boosted their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Piper Sandler upped their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Two equities research 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Trading Down 1.4 %

Cincinnati Financial stock opened at $157.58 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s 50 day moving average price is $144.07 and its 200-day moving average price is $131.32. Cincinnati Financial Co. has a 1 year low of $100.31 and a 1 year high of $161.74. The stock has a market cap of $24.63 billion, a P/E ratio of 8.10, a PEG ratio of 3.05 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. On average, equities analysts predict that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s payout ratio is presently 16.65%.

Cincinnati Financial 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.