Illinois Municipal Retirement Fund Boosts Stock Position in Cincinnati Financial Corporation (NASDAQ:CINF)

Illinois Municipal Retirement Fund raised its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 9.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sequoia Financial Advisors LLC raised its holdings in Cincinnati Financial by 14.7% in the first quarter. Sequoia Financial Advisors LLC now owns 3,391 shares of the insurance provider's stock valued at $501,000 after acquiring an additional 434 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Cincinnati Financial in the 1st quarter valued at $30,000. Spire Wealth Management lifted its position in shares of Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after purchasing an additional 76 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Cincinnati Financial during the first quarter worth $202,000. Finally, Legacy Advisors LLC purchased a new position in Cincinnati Financial in the first quarter valued at $447,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF traded up $2.78 during trading hours on Monday, reaching $149.01. The stock had a trading volume of 412,416 shares, compared to its average volume of 656,929. The firm has a 50-day moving average of $145.35 and a 200-day moving average of $142.06. The firm has a market cap of $23.29 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 9.71 and a beta of 0.78. 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 Corporation has a fifty-two week low of $114.75 and a fifty-two week high of $161.75.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.37. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.70 billion. Cincinnati Financial had a return on equity of 6.55% and a net margin of 13.19%. The company's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 earnings per share. Equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial's payout ratio is currently 37.95%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. 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 report on Wednesday, April 9th. Wall Street Zen raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $150.50.

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.