State of Tennessee Department of Treasury Has $8.05 Million Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

State of Tennessee Department of Treasury lessened its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,014 shares of the insurance provider’s stock after selling 2,452 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Cincinnati Financial were worth $8,049,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Cincinnati Financial by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider’s stock valued at $2,754,399,000 after acquiring an additional 173,417 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cincinnati Financial by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider’s stock valued at $863,099,000 after purchasing an additional 224,033 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cincinnati Financial by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 3,930,022 shares of the insurance provider’s stock valued at $563,323,000 after buying an additional 185,705 shares during the period. Norges Bank bought a new position in Cincinnati Financial during the fourth quarter worth about $223,959,000. Finally, Dimensional Fund Advisors LP boosted its stake in Cincinnati Financial by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,415,742 shares of the insurance provider’s stock worth $203,438,000 after acquiring an additional 34,810 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CINF shares. Roth Mkm boosted their price target on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods dropped their price target on Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, StockNews.com upgraded Cincinnati Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.40.

Cincinnati Financial Stock Up 1.0 %

CINF stock opened at $135.36 on Friday. Cincinnati Financial Co. has a 52 week low of $109.93 and a 52 week high of $161.75. The business has a 50-day simple moving average of $139.26 and a 200 day simple moving average of $142.45. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The company has a market cap of $21.19 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 8.30 and a beta of 0.53.

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

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Monday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s payout ratio is 23.97%.

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.