Kentucky Retirement Systems Lowers Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Kentucky Retirement Systems trimmed its position in Cincinnati Financial Co. (NASDAQ:CINF) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,923 shares of the insurance provider’s stock after selling 631 shares during the period. Kentucky Retirement Systems’ holdings in Cincinnati Financial were worth $1,480,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Cincinnati Financial by 17.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 32,828 shares of the insurance provider’s stock worth $3,396,000 after purchasing an additional 4,795 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Cincinnati Financial by 6.3% during the 4th quarter. Pacer Advisors Inc. now owns 10,512 shares of the insurance provider’s stock worth $1,088,000 after purchasing an additional 626 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Cincinnati Financial by 29.2% during the 4th quarter. Blue Trust Inc. now owns 5,109 shares of the insurance provider’s stock worth $523,000 after purchasing an additional 1,156 shares in the last quarter. Welch Group LLC boosted its position in shares of Cincinnati Financial by 1.4% during the 4th quarter. Welch Group LLC now owns 409,631 shares of the insurance provider’s stock worth $42,380,000 after purchasing an additional 5,812 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Cincinnati Financial by 11.6% during the 4th quarter. UMB Bank n.a. now owns 1,004 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 104 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

CINF traded up $3.66 on Friday, hitting $123.96. The company had a trading volume of 889,459 shares, compared to its average volume of 752,759. The company’s fifty day moving average price is $117.67 and its 200 day moving average price is $116.20. Cincinnati Financial Co. has a 1-year low of $96.86 and a 1-year high of $128.23. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market cap of $19.41 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last issued 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 for the quarter, compared to the consensus estimate of $2.21 billion. Cincinnati Financial had a return on equity of 9.29% and a net margin of 20.20%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. Equities analysts predict that Cincinnati Financial Co. will post 6.25 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio is presently 21.56%.

Wall Street Analysts Forecast Growth

CINF has been the topic of several research analyst reports. Piper Sandler restated a “neutral” rating and set a $116.00 target price on shares of Cincinnati Financial in a research report on Monday, April 1st. Bank of America lifted their price target on Cincinnati Financial from $143.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Roth Mkm lifted their price target on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.57.

Insider Activity

In other news, Director Dirk J. Debbink acquired 1,000 shares of the stock in a transaction dated Monday, April 29th. The shares were acquired at an average cost of $113.47 per share, for a total transaction of $113,470.00. Following the completion of the transaction, the director now owns 53,988 shares in the company, valued at approximately $6,126,018.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.83% of the stock is currently owned by company insiders.

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.