Public Employees Retirement System of Ohio Grows Position in Cincinnati Financial Corporation $CINF

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Cincinnati Financial Corporation by 2.1%, now owning approximately 0.06% of the company worth $14.3 million.
• Cincinnati Financial reported an EPS of $1.97 for the latest quarter, exceeding analyst estimates of $1.39, while revenue for the quarter was $2.48 billion, falling short of expectations.
• The company announced a quarterly dividend of $0.87 per share, representing an annualized yield of 2.2%, to be paid on October 15th.

Public Employees Retirement System of Ohio boosted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 95,914 shares of the insurance provider's stock after acquiring an additional 1,965 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.06% of Cincinnati Financial worth $14,284,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new position in Cincinnati Financial in the second quarter worth $25,000. Spire Wealth Management increased its position in shares of Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after buying an additional 76 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cincinnati Financial in the first quarter valued at $26,000. Alpine Bank Wealth Management purchased a new position in shares of Cincinnati Financial in the first quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in shares of Cincinnati Financial in the first quarter valued at $32,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Trading Up 1.6%

Cincinnati Financial stock opened at $156.90 on Friday. The stock has a market cap of $24.54 billion, a PE ratio of 13.61, a P/E/G ratio of 7.56 and a beta of 0.72. The stock has a 50-day moving average price of $152.62 and a 200 day moving average price of $146.92. 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 - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. The firm had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The firm's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. Equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio (DPR) is currently 30.18%.

Wall Street Analysts Forecast Growth

CINF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Roth Capital raised their price target on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial 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.

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