Cincinnati Financial Corporation $CINF Stock: Illinois Municipal Retirement Fund Cuts Stake

Illinois Municipal Retirement Fund lowered its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 116,791 shares of the insurance provider’s stock after selling 4,955 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cincinnati Financial were worth $18,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Keating Financial Advisory Services Inc. purchased a new position in shares of Cincinnati Financial in the second quarter worth approximately $27,000. Covestor Ltd grew its position in Cincinnati Financial by 98.8% during the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after buying an additional 83 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in Cincinnati Financial during the first quarter valued at approximately $34,000. Elevation Wealth Partners LLC increased its holdings in Cincinnati Financial by 230.8% during the third quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. Finally, GK Wealth Management LLC purchased a new stake in Cincinnati Financial during the third quarter valued at approximately $36,000. Institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CINF. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their price objective on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Roth Capital boosted their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Piper Sandler upped their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $191.60.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk Debbink purchased 1,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was acquired at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the transaction, the director directly owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.94% of the stock is currently owned by insiders.

Cincinnati Financial Stock Down 0.1%

CINF stock opened at $189.78 on Thursday. The business’s 50-day moving average price is $171.93 and its 200-day moving average price is $169.19. The stock has a market cap of $29.13 billion, a P/E ratio of 11.13, a PEG ratio of 3.01 and a beta of 0.48. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a twelve month low of $153.40 and a twelve month high of $195.72.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, October 26th. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.81. Cincinnati Financial had a net margin of 20.07% and a return on equity of 9.48%. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm posted $2.85 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Cincinnati Financial Corporation will post 9.21 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is presently 22.05%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals. The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.