New York State Common Retirement Fund Has $11.38 Million Stake in Cincinnati Financial Co. (NASDAQ:CINF)

New York State Common Retirement Fund cut its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,173 shares of the insurance provider’s stock after selling 4,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Cincinnati Financial were worth $11,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CINF. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Cincinnati Financial by 12.9% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,222 shares of the insurance provider’s stock valued at $750,000 after acquiring an additional 596 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Cincinnati Financial during the fourth quarter valued at about $294,000. Kestra Investment Management LLC purchased a new position in Cincinnati Financial during the fourth quarter worth about $72,000. Atria Wealth Solutions Inc. bought a new stake in Cincinnati Financial in the 4th quarter worth about $219,000. Finally, Truist Financial Corp increased its stake in Cincinnati Financial by 3.2% in the 4th quarter. Truist Financial Corp now owns 11,009 shares of the insurance provider’s stock valued at $1,582,000 after buying an additional 341 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $137.13 on Tuesday. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $139.81 and its 200 day simple moving average is $140.98. Cincinnati Financial Co. has a 12 month low of $109.93 and a 12 month high of $161.74. The company has a market cap of $21.44 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 8.30 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. Sell-side analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.87 dividend. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 annualized dividend and a dividend yield of 2.54%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 23.97%.

Wall Street Analyst Weigh In

CINF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Roth Mkm upped their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler raised their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.00.

Insider Activity

In related news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the transaction, the director now owns 54,500 shares in the company, valued at $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.