Kentucky Retirement Systems Sells 148 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Kentucky Retirement Systems decreased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 10,737 shares of the insurance provider’s stock after selling 148 shares during the quarter. Kentucky Retirement Systems’ holdings in Cincinnati Financial were worth $1,543,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its position in Cincinnati Financial by 10.8% in the 4th quarter. Handelsbanken Fonder AB now owns 25,185 shares of the insurance provider’s stock valued at $3,619,000 after acquiring an additional 2,463 shares in the last quarter. Ieq Capital LLC lifted its position in Cincinnati Financial by 45.8% in the 4th quarter. Ieq Capital LLC now owns 14,643 shares of the insurance provider’s stock valued at $2,104,000 after acquiring an additional 4,603 shares in the last quarter. Global Retirement Partners LLC lifted its position in Cincinnati Financial by 18.3% in the 4th quarter. Global Retirement Partners LLC now owns 667 shares of the insurance provider’s stock valued at $96,000 after acquiring an additional 103 shares in the last quarter. Convergence Investment Partners LLC bought a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $210,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $101,000. Institutional investors own 65.24% of the company’s stock.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the purchase, the director now owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.83% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on CINF. Roth Mkm lifted their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler lifted their target price 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 lifted their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

Cincinnati Financial Trading Down 0.5 %

NASDAQ:CINF opened at $135.14 on Monday. 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 stock has a market capitalization of $21.12 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 8.30 and a beta of 0.71. The firm’s 50 day moving average is $140.12 and its 200 day moving average is $140.91. Cincinnati Financial Co. has a 12 month low of $109.93 and a 12 month high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, topping 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 expect that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.58%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. Cincinnati Financial’s payout ratio is currently 23.97%.

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.