Public Employees Retirement System of Ohio Acquires Shares of 92,005 Cincinnati Financial Corporation $CINF

Public Employees Retirement System of Ohio acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, according to its most recent filing with the SEC. The firm acquired 92,005 shares of the insurance provider’s stock, valued at approximately $17,034,000. Public Employees Retirement System of Ohio owned about 0.06% of Cincinnati Financial as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Bison Wealth LLC bought a new position in Cincinnati Financial during the 4th quarter valued at approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after buying an additional 525 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after acquiring an additional 173,343 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Cincinnati Financial during the second quarter valued at approximately $101,000. Finally, Cerity Partners LLC grew its position in Cincinnati Financial by 10.8% in the 2nd quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after purchasing an additional 4,674 shares during the period. 65.24% of the stock is owned by institutional investors.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were bought at an average cost of $171.64 per share, with a total value of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.94% of the company’s stock.

Cincinnati Financial Stock Performance

CINF stock opened at $171.97 on Friday. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81. The business has a 50-day moving average price of $178.09 and a 200 day moving average price of $168.68. The company has a market capitalization of $26.39 billion, a P/E ratio of 8.11, a PEG ratio of 3.60 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced 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 business had revenue of $4.27 billion during 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 company posted $1.97 EPS. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s payout ratio is currently 17.74%.

Wall Street Analyst Weigh In

CINF has been the subject of several research reports. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Piper Sandler raised their target price 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. Finally, Roth Capital raised their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average 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.