Cincinnati Financial Corporation $CINF Stock Position Raised by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,458 shares of the insurance provider’s stock after purchasing an additional 989 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Cincinnati Financial were worth $3,493,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CINF. Quintet Private Bank Europe S.A. purchased a new position in Cincinnati Financial in the 2nd quarter worth about $25,000. Meeder Asset Management Inc. purchased a new position in shares of Cincinnati Financial in the first quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Cincinnati Financial in the first quarter worth approximately $32,000. AlphaQuest LLC raised its holdings in shares of Cincinnati Financial by 714.3% during the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 200 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Cincinnati Financial by 51.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 282 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of CINF opened at $163.90 on Monday. 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 firm has a market cap of $25.57 billion, a PE ratio of 12.19, a PEG ratio of 4.27 and a beta of 0.69. The firm’s 50 day moving average price is $157.82 and its 200 day moving average price is $152.16. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $168.20.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, topping the consensus estimate of $2.01 by $0.84. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

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

Analyst Upgrades and Downgrades

CINF has been the topic of several research analyst reports. Roth Capital reiterated a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Cincinnati Financial has an average rating of “Buy” and an average price target of $171.67.

Insider Buying and Selling

In related news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were bought at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the completion of the acquisition, the director directly owned 58,482 shares in the company, valued at approximately $9,005,058.36. This represents a 1.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is owned by insiders.

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.