Cincinnati Financial Co. (NASDAQ:CINF) Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System increased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 33.5% in the fourth quarter, HoldingsChannel reports. The firm owned 668,341 shares of the insurance provider’s stock after buying an additional 167,898 shares during the quarter. California Public Employees Retirement System’s holdings in Cincinnati Financial were worth $96,041,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cincinnati Financial during the 4th quarter valued at $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Cincinnati Financial during the third quarter worth $28,000. Y.D. More Investments Ltd boosted its position in Cincinnati Financial by 121.8% in the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock valued at $28,000 after buying an additional 106 shares during the last quarter. True Wealth Design LLC acquired a new stake in Cincinnati Financial during the 3rd quarter valued at approximately $42,000. Finally, Quarry LP acquired a new stake in shares of Cincinnati Financial during the third quarter worth approximately $43,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CINF. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Roth Mkm boosted their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.20.

Cincinnati Financial Stock Performance

CINF stock opened at $147.72 on Tuesday. The company has a market capitalization of $23.13 billion, a P/E ratio of 10.17, a PEG ratio of 8.30 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $140.71 and a 200 day simple moving average of $142.88. Cincinnati Financial Co. has a fifty-two week low of $109.93 and a fifty-two week high of $161.75.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. Sell-side analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a dividend of $0.87 per share. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s payout ratio is presently 23.97%.

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.