92,005 Shares in Cincinnati Financial Corporation $CINF Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 92,005 shares of the insurance provider’s stock, valued at approximately $17,034,000.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in Cincinnati Financial by 0.3% in the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock valued at $1,357,825,000 after purchasing an additional 26,475 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cincinnati Financial by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock worth $1,083,151,000 after buying an additional 97,761 shares during the period. Geode Capital Management LLC boosted its holdings in Cincinnati Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after purchasing an additional 25,888 shares during the period. First Trust Advisors LP grew its stake in Cincinnati Financial by 59.4% during the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after purchasing an additional 784,584 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Cincinnati Financial by 4.2% in the 2nd quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock valued at $299,553,000 after purchasing an additional 80,487 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Down 0.3%

CINF stock opened at $171.97 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. The company’s 50 day simple moving average is $178.09 and its 200-day simple moving average is $168.68. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. The firm has a market capitalization of $26.39 billion, a PE ratio of 8.11, a P/E/G ratio of 3.60 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same period in the previous year, the business posted $1.97 EPS. Equities analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 17.74%.

Insiders Place Their Bets

In other news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was bought at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the purchase, the director directly owned 62,059 shares of the company’s stock, valued at $10,651,806.76. The trade was a 1.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CINF. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Roth Capital lifted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average target price of $195.40.

Cincinnati Financial Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.