4,955 Cincinnati Financial Corporation $CINF Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 116,791 shares of the insurance provider’s stock after selling 4,955 shares during the quarter. Illinois Municipal Retirement Fund owned 0.08% of Cincinnati Financial worth $18,613,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Keating Financial Advisory Services Inc. purchased a new stake in shares of Cincinnati Financial during the second quarter valued at approximately $27,000. Covestor Ltd increased its position in shares of Cincinnati Financial by 98.8% during the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 83 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Cincinnati Financial in the 1st quarter worth approximately $34,000. Elevation Wealth Partners LLC raised its holdings in Cincinnati Financial by 230.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Finally, Davis Capital Management lifted its position in Cincinnati Financial by 7,433.3% in the 3rd quarter. Davis Capital Management now owns 226 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 223 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CINF. Roth Capital increased their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Piper Sandler boosted their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a report on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their price target on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating on the stock in a report on Monday, October 12th. Finally, Bank of America cut Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Insiders Place Their Bets

In other news, Director Dirk Debbink purchased 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average cost of $171.64 per share, with a total value of $171,640.00. Following the acquisition, the director directly owned 62,059 shares of the company’s stock, valued at $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.94% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $189.78 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $171.93 and a 200-day moving average price of $169.19. Cincinnati Financial Corporation has a 52 week low of $153.40 and a 52 week high of $195.72. The firm has a market capitalization of $29.13 billion, a PE ratio of 11.13, a P/E/G ratio of 3.01 and a beta of 0.48.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, October 26th. The insurance provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.81. Cincinnati Financial had a net margin of 20.07% and a return on equity of 9.48%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $2.85 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts expect that Cincinnati Financial Corporation will post 9.21 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were paid a dividend of $0.94 per share. The ex-dividend date was Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. Cincinnati Financial’s payout ratio is currently 22.05%.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals. The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.