Louisiana State Employees Retirement System Trims Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Louisiana State Employees Retirement System lowered its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,800 shares of the insurance provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Cincinnati Financial were worth $1,198,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CINF. Fort Washington Investment Advisors Inc. OH raised its stake in Cincinnati Financial by 1.1% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock valued at $178,845,000 after purchasing an additional 16,451 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after buying an additional 187,934 shares in the last quarter. Bahl & Gaynor Inc. lifted its holdings in shares of Cincinnati Financial by 10.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after acquiring an additional 107,081 shares during the last quarter. AQR Capital Management LLC grew its position in Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after acquiring an additional 277,550 shares in the last quarter. Finally, Boston Trust Walden Corp increased its stake in Cincinnati Financial by 7.8% in the second quarter. Boston Trust Walden Corp now owns 757,795 shares of the insurance provider’s stock valued at $89,496,000 after acquiring an additional 55,033 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

CINF has been the subject of several research analyst reports. 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, July 26th. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler increased their price target on shares of 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 boosted their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $140.65 on Friday. The stock has a market capitalization of $21.99 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 2.70 and a beta of 0.66. Cincinnati Financial Co. has a one year low of $98.65 and a one year high of $145.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The business’s 50 day simple moving average is $137.14 and its two-hundred day simple moving average is $126.09.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.66 EPS. Analysts forecast that Cincinnati Financial Co. will post 6.4 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.30%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 16.65%.

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.