8,000 Shares in Cincinnati Financial Corporation $CINF Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,000 shares of the insurance provider’s stock, valued at approximately $1,259,000.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Cincinnati Financial in the 4th quarter valued at approximately $270,892,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Cincinnati Financial by 193.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock worth $98,161,000 after acquiring an additional 396,086 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Cincinnati Financial by 38.5% during the 4th quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock worth $215,562,000 after acquiring an additional 367,224 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Cincinnati Financial by 48.6% during the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after acquiring an additional 262,715 shares in the last quarter. Finally, Korea Investment CORP increased its stake in Cincinnati Financial by 210.0% in the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after acquiring an additional 199,437 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CINF has been the subject of several recent analyst reports. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Roth Mkm lifted their price target on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Piper Sandler boosted their price target on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Bank of America reduced their price objective on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $183.25.

Cincinnati Financial Price Performance

CINF stock opened at $192.03 on Friday. The stock has a market cap of $29.70 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 4.15 and a beta of 0.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. The company has a 50 day simple moving average of $168.51 and a 200 day simple moving average of $164.98. Cincinnati Financial Corporation has a 1 year low of $143.87 and a 1 year high of $192.09.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.24) earnings per share. Research analysts anticipate that Cincinnati Financial Corporation will post 8.66 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be paid 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 is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is presently 21.50%.

About Cincinnati Financial

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.