Maryland State Retirement & Pension System Cuts Stake in Cincinnati Financial Corporation (NASDAQ:CINF)

Maryland State Retirement & Pension System trimmed its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,156 shares of the insurance provider’s stock after selling 1,318 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cincinnati Financial were worth $1,057,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Cincinnati Financial by 0.5% during the first quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider’s stock worth $2,844,419,000 after acquiring an additional 87,773 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 worth $940,130,000 after acquiring an additional 358,018 shares during the last quarter. Northern Trust Corp increased its position in shares of Cincinnati Financial by 10.8% during the fourth quarter. Northern Trust Corp now owns 1,672,210 shares of the insurance provider’s stock worth $240,297,000 after acquiring an additional 162,714 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cincinnati Financial by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,415,742 shares of the insurance provider’s stock worth $203,438,000 after acquiring an additional 34,810 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in shares of 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 worth $205,061,000 after acquiring an additional 55,487 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CINF. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Roth Capital boosted their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, Wall Street Zen raised Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.40.

Cincinnati Financial Stock Down 0.9%

NASDAQ:CINF opened at $150.13 on Monday. The firm has a market capitalization of $23.48 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 7.44 and a beta of 0.70. The stock has a 50 day moving average of $148.30 and a 200-day moving average of $143.37. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $161.74. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

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

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.