Maryland State Retirement & Pension System Grows Stock Holdings in Cincinnati Financial Corporation $CINF

Maryland State Retirement & Pension System boosted its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,487 shares of the insurance provider’s stock after purchasing an additional 331 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cincinnati Financial were worth $1,115,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Cincinnati Financial by 0.5% during the first quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider’s stock valued at $2,844,419,000 after purchasing an additional 87,773 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cincinnati Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider’s stock valued at $940,130,000 after purchasing an additional 358,018 shares in the last quarter. Invesco Ltd. raised its stake in Cincinnati Financial by 2.2% during the first quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider’s stock valued at $273,062,000 after purchasing an additional 40,222 shares in the last quarter. GQG Partners LLC purchased a new stake in Cincinnati Financial during the first quarter valued at $270,005,000. Finally, Johnson Investment Counsel Inc. raised its stake in Cincinnati Financial by 4.2% during the first quarter. Johnson Investment Counsel Inc. now owns 1,388,176 shares of the insurance provider’s stock valued at $205,061,000 after purchasing an additional 55,487 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 1.7%

NASDAQ CINF opened at $158.97 on Monday. The company’s 50-day moving average price is $155.11 and its 200-day moving average price is $148.06. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market cap of $24.86 billion, a PE ratio of 13.79, a PEG ratio of 7.77 and a beta of 0.72. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $166.90.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.58. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. Equities research analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be issued a $0.87 dividend. The ex-dividend date is Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio is presently 30.18%.

Analyst Ratings Changes

CINF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Finally, Roth Capital increased their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.25.

About Cincinnati Financial

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.