Illinois Municipal Retirement Fund Buys 8,445 Shares of Cincinnati Financial Corporation (NASDAQ:CINF)

Illinois Municipal Retirement Fund grew its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,436 shares of the insurance provider's stock after purchasing an additional 8,445 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Cincinnati Financial worth $14,393,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Cincinnati Financial by 0.9% in the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Cincinnati Financial by 3.9% during 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 acquiring an additional 224,033 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cincinnati Financial by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 3,930,022 shares of the insurance provider's stock valued at $563,323,000 after acquiring an additional 185,705 shares during the last quarter. Northern Trust Corp grew its stake in shares of Cincinnati Financial by 10.8% in 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 period. Finally, Norges Bank purchased a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $223,959,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CINF. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price target on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and an average price target of $147.40.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF traded up $0.47 during trading on Friday, hitting $146.23. The company's stock had a trading volume of 1,007,403 shares, compared to its average volume of 660,485. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market cap of $22.86 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 9.54 and a beta of 0.78. The company has a 50-day moving average of $145.07 and a 200-day moving average of $142.22. Cincinnati Financial Corporation has a 12 month low of $114.41 and a 12 month high of $161.75.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.37. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.70 billion. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The company's quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share. On average, sell-side analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be issued a $0.87 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a yield of 2.38%. Cincinnati Financial's dividend payout ratio is currently 37.95%.

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.