Retirement Systems of Alabama Sells 326 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Retirement Systems of Alabama reduced its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,844 shares of the insurance provider’s stock after selling 326 shares during the quarter. Retirement Systems of Alabama’s holdings in Cincinnati Financial were worth $4,863,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Boston Trust Walden Corp increased its holdings in shares of Cincinnati Financial by 2.3% in the fourth quarter. Boston Trust Walden Corp now owns 795,780 shares of the insurance provider’s stock worth $114,354,000 after acquiring an additional 18,192 shares in the last quarter. HFG Advisors Inc. bought a new position in shares of Cincinnati Financial during the fourth quarter worth about $318,000. Round Rock Advisors LLC bought a new position in shares of Cincinnati Financial during the fourth quarter worth about $201,000. Greenleaf Trust grew its holdings in shares of Cincinnati Financial by 5.8% during the fourth quarter. Greenleaf Trust now owns 2,054 shares of the insurance provider’s stock worth $295,000 after buying an additional 112 shares in the last quarter. Finally, Golden State Equity Partners grew its holdings in shares of Cincinnati Financial by 7.4% during the fourth quarter. Golden State Equity Partners now owns 3,602 shares of the insurance provider’s stock worth $518,000 after buying an additional 249 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler increased their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $135.62 on Tuesday. The stock has a 50 day moving average price of $143.70 and a 200 day moving average price of $140.25. Cincinnati Financial Co. has a 52 week low of $107.75 and a 52 week high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $21.20 billion, a PE ratio of 6.97, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Analysts predict that Cincinnati Financial Co. will post 6.33 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.57%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Insider Activity

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $157.19 per share, with a total value of $157,190.00. Following the completion of the transaction, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This represents a 1.87 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.83% of the company’s stock.

Cincinnati Financial Company 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.