Arizona State Retirement System Grows Stock Holdings in Cincinnati Financial Corporation $CINF

Key Points

• Arizona State Retirement System increased its Cincinnati Financial stake by 268.4% in the second quarter, bringing its holdings to 156,184 shares worth approximately $28.9 million. Institutional investors collectively own 65.24% of the company.
• Analysts maintain a generally positive outlook, with Cincinnati Financial receiving a consensus “Moderate Buy” rating and an average price target of $195.40, despite mixed recent ratings and a quarterly earnings miss.
• Cincinnati Financial declared a quarterly dividend of $0.94 per share, equivalent to an annualized $3.76 dividend and a 2.2% yield. The company’s shares recently traded at $169.14, while a director also purchased 1,000 shares.

Arizona State Retirement System raised its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 268.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,184 shares of the insurance provider's stock after buying an additional 113,790 shares during the quarter. Arizona State Retirement System owned about 0.10% of Cincinnati Financial worth $28,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Keating Financial Advisory Services Inc. bought a new stake in Cincinnati Financial in the 2nd quarter worth about $27,000. Motiv8 Investments LLC purchased a new position in shares of Cincinnati Financial during the 4th quarter worth $29,000. Covestor Ltd grew its holdings in 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 purchasing an additional 83 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in Cincinnati Financial in the 1st quarter worth approximately $34,000. Finally, DV Equities LLC purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth $36,000. Institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a report on Wednesday, July 15th. Roth Capital upped their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods cut their price target on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a report on Wednesday, August 5th. Weiss Ratings downgraded Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research report on Friday, August 21st. Finally, Bank of America lowered Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their price target for the company from $197.00 to $193.00 in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $195.40.

Cincinnati Financial Stock Performance

CINF stock traded down $1.96 during midday trading on Tuesday, reaching $169.14. The stock had a trading volume of 424,319 shares, compared to its average volume of 744,058. Cincinnati Financial Corporation has a 52-week low of $150.00 and a 52-week high of $194.81. The firm has a fifty day simple moving average of $177.17 and a two-hundred day simple moving average of $169.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $25.96 billion, a PE ratio of 7.98, a P/E/G ratio of 3.58 and a beta of 0.53.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the firm posted $1.97 earnings per share. As a group, equities research analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio is currently 17.74%.

Insider Buying and Selling

In other news, Director Dirk Debbink acquired 1,000 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares of the company's stock, valued at approximately $10,651,806.76. This represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.94% of the company's stock.

About Cincinnati Financial

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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