Cincinnati Financial Corporation $CINF Shares Acquired by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lifted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 155,338 shares of the insurance provider’s stock after acquiring an additional 1,720 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Cincinnati Financial were worth $23,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CINF. Vanguard Group Inc. increased its stake in shares of Cincinnati Financial by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock valued at $2,914,738,000 after acquiring an additional 317,033 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cincinnati Financial by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,470,538 shares of the insurance provider’s stock valued at $963,594,000 after purchasing an additional 106,266 shares during the period. Invesco Ltd. increased its position in Cincinnati Financial by 2.2% during the first quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider’s stock worth $273,062,000 after purchasing an additional 40,222 shares during the last quarter. GQG Partners LLC purchased a new position in Cincinnati Financial during the first quarter worth approximately $270,005,000. Finally, Bahl & Gaynor Inc. raised its stake in Cincinnati Financial by 4.4% during the first quarter. Bahl & Gaynor Inc. now owns 1,169,676 shares of the insurance provider’s stock worth $172,785,000 after purchasing an additional 49,593 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insiders Place Their Bets

In related news, Director Dirk J. Debbink bought 1,000 shares of the company’s stock in a transaction dated Tuesday, October 28th. The stock was bought at an average price of $153.98 per share, with a total value of $153,980.00. Following the transaction, the director owned 58,482 shares of the company’s stock, valued at approximately $9,005,058.36. This trade represents a 1.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.83% of the stock is currently owned by corporate insiders.

Cincinnati Financial Trading Down 0.2%

Shares of CINF opened at $168.13 on Friday. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $169.86. The stock has a 50-day moving average price of $159.97 and a 200 day moving average price of $153.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.30. The company has a market capitalization of $26.23 billion, a P/E ratio of 12.51, a P/E/G ratio of 4.27 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $2.87 billion. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.Cincinnati Financial’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 EPS. Sell-side analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, December 22nd. Cincinnati Financial’s dividend payout ratio is 25.89%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CINF shares. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Finally, Roth Capital reiterated a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a report on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $171.67.

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.