Public Sector Pension Investment Board Boosts Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Public Sector Pension Investment Board raised its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,516 shares of the insurance provider’s stock after buying an additional 1,786 shares during the period. Public Sector Pension Investment Board’s holdings in Cincinnati Financial were worth $3,132,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CINF. Assetmark Inc. lifted its holdings in Cincinnati Financial by 252.2% during the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Cincinnati Financial during the 2nd quarter valued at $29,000. Raleigh Capital Management Inc. bought a new position in Cincinnati Financial in the 4th quarter worth $31,000. Future Financial Wealth Managment LLC purchased a new stake in Cincinnati Financial in the 1st quarter worth $47,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Cincinnati Financial during the second quarter valued at about $49,000. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CINF. Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and upped 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 objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Bank of America dropped their target price on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Stock Up 0.5 %

Shares of NASDAQ CINF opened at $135.64 on Friday. The stock has a market capitalization of $21.24 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 2.65 and a beta of 0.66. Cincinnati Financial Co. has a 12-month low of $96.86 and a 12-month high of $139.34. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $131.77 and its 200-day moving average price is $122.87.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.33. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.21 billion. Cincinnati Financial had a return on equity of 9.10% 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 last year, the company earned $1.21 EPS. On average, equities research analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is 21.56%.

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.