Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in Cincinnati Financial Co. (NASDAQ:CINF) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,406 shares of the insurance provider’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Cincinnati Financial were worth $6,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CINF. National Pension Service lifted its stake in shares of Cincinnati Financial by 0.6% in the 3rd quarter. National Pension Service now owns 254,012 shares of the insurance provider’s stock valued at $34,576,000 after purchasing an additional 1,513 shares during the period. Asset Management One Co. Ltd. raised its position in Cincinnati Financial by 3.7% during the third quarter. Asset Management One Co. Ltd. now owns 62,306 shares of the insurance provider’s stock worth $8,481,000 after acquiring an additional 2,223 shares during the period. QRG Capital Management Inc. acquired a new position in Cincinnati Financial during the third quarter worth $2,210,000. Catalyst Capital Advisors LLC acquired a new position in Cincinnati Financial during the third quarter worth $27,000. Finally, Concurrent Investment Advisors LLC acquired a new position in Cincinnati Financial during the third quarter worth $228,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $140.77 on Friday. Cincinnati Financial Co. has a 52-week low of $109.93 and a 52-week high of $161.74. The firm has a market capitalization of $22.03 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 8.30 and a beta of 0.71. The company has a fifty day simple moving average of $139.63 and a 200-day simple moving average of $141.61. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. On average, equities analysts anticipate that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.87 per share. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.47%. Cincinnati Financial’s dividend payout ratio is presently 23.97%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CINF. Roth Mkm upped their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $151.00.

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.