Louisiana State Employees Retirement System Reduces Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Louisiana State Employees Retirement System lessened its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,400 shares of the insurance provider’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cincinnati Financial were worth $1,207,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Cincinnati Financial by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after purchasing an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Cincinnati Financial by 583.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock valued at $52,531,000 after acquiring an additional 329,435 shares during the period. JPMorgan Chase & Co. raised its holdings in Cincinnati Financial by 49.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after purchasing an additional 147,542 shares during the period. SG Americas Securities LLC grew its holdings in Cincinnati Financial by 3,381.8% in the fourth quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider’s stock valued at $20,228,000 after purchasing an additional 136,725 shares during the period. Finally, Cibc World Market Inc. raised its stake in shares of Cincinnati Financial by 1,711.7% during the 4th quarter. Cibc World Market Inc. now owns 103,505 shares of the insurance provider’s stock worth $14,874,000 after buying an additional 97,792 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CINF has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Roth Mkm increased their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $151.00.

Cincinnati Financial Stock Down 0.2 %

Shares of NASDAQ CINF opened at $136.97 on Monday. The company has a market capitalization of $21.41 billion, a P/E ratio of 7.04, a P/E/G ratio of 2.42 and a beta of 0.71. 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 company has a 50 day simple moving average of $141.69 and a 200-day simple moving average of $140.55. Cincinnati Financial Co. has a 1 year low of $109.93 and a 1 year high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. On average, equities research analysts predict that Cincinnati Financial Co. will post 6.33 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a $0.87 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 dividend on an annualized basis and a yield of 2.54%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio is presently 16.65%.

Insiders Place Their Bets

In related news, Director Dirk J. Debbink acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the acquisition, the director now owns 54,500 shares in the company, valued at $8,566,855. The trade was a 1.87 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.83% of the stock is currently owned by insiders.

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.