Canada Pension Plan Investment Board Has $11.65 Million Position in Cincinnati Financial Co. (NASDAQ:CINF)

Canada Pension Plan Investment Board lowered its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 59.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,100 shares of the insurance provider's stock after selling 116,800 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.05% of Cincinnati Financial worth $11,654,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Cincinnati Financial during the fourth quarter valued at $223,959,000. Charles Schwab Investment Management Inc. lifted its position in Cincinnati Financial by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock valued at $863,099,000 after purchasing an additional 224,033 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cincinnati Financial by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 3,930,022 shares of the insurance provider's stock valued at $563,323,000 after buying an additional 185,705 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Cincinnati Financial by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider's stock worth $2,754,399,000 after buying an additional 173,417 shares during the period. Finally, California Public Employees Retirement System increased its position in Cincinnati Financial by 33.5% in the 4th quarter. California Public Employees Retirement System now owns 668,341 shares of the insurance provider's stock valued at $96,041,000 after acquiring an additional 167,898 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CINF shares. Roth Mkm increased their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. StockNews.com raised Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods decreased their price target on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $147.40.

Cincinnati Financial Price Performance

CINF stock traded down $1.67 on Friday, hitting $133.69. 686,829 shares of the company's stock traded hands, compared to its average volume of 671,442. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 8.30 and a beta of 0.53. Cincinnati Financial Co. has a 1-year low of $109.93 and a 1-year high of $161.75. The stock has a fifty day moving average of $139.20 and a 200-day moving average of $142.44. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. On average, analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Monday, March 24th. 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 2.60%. Cincinnati Financial's dividend payout ratio is currently 23.97%.

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.