Retirement Systems of Alabama Sells 366 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Retirement Systems of Alabama reduced its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,170 shares of the insurance provider’s stock after selling 366 shares during the quarter. Retirement Systems of Alabama’s holdings in Cincinnati Financial were worth $4,651,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CINF. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Cincinnati Financial in the 3rd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new position in Cincinnati Financial in the third quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Cincinnati Financial in the third quarter valued at approximately $28,000. Rothschild Investment LLC acquired a new stake in shares of Cincinnati Financial during the second quarter worth $29,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Cincinnati Financial during the third quarter worth $29,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $142.23 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day moving average price of $148.23 and a 200 day moving average price of $134.21. The stock has a market capitalization of $22.23 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 2.89 and a beta of 0.69. Cincinnati Financial Co. has a 52 week low of $100.31 and a 52 week high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Insider Transactions at Cincinnati Financial

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Piper Sandler lifted 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. Finally, Bank of America upped their price target on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

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.