Strs Ohio Buys Shares of 16,068 Cincinnati Financial Corporation $CINF

Key Points

• Strs Ohio has made a new investment of approximately $2.37 million in Cincinnati Financial Corporation, acquiring 16,068 shares of the insurance provider.
• Cincinnati Financial's recent quarterly earnings exceeded analysts' expectations, reporting $1.97 EPS compared to the consensus estimate of $1.39 EPS.
• The company has declared a quarterly dividend of $0.87 per share, with an annualized yield of 2.2%, reflecting a dividend payout ratio of 30.18%.

Strs Ohio bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,068 shares of the insurance provider's stock, valued at approximately $2,374,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. WBI Investments LLC acquired a new stake in Cincinnati Financial in the 1st quarter worth approximately $532,000. Belpointe Asset Management LLC lifted its holdings in Cincinnati Financial by 11.7% in the 1st quarter. Belpointe Asset Management LLC now owns 4,842 shares of the insurance provider's stock worth $715,000 after purchasing an additional 506 shares during the last quarter. Focus Partners Wealth lifted its holdings in Cincinnati Financial by 6.1% in the 1st quarter. Focus Partners Wealth now owns 19,977 shares of the insurance provider's stock worth $2,951,000 after purchasing an additional 1,147 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in Cincinnati Financial in the 1st quarter worth approximately $108,000. Finally, Glenview Trust co lifted its holdings in Cincinnati Financial by 5.1% in the 1st quarter. Glenview Trust co now owns 4,989 shares of the insurance provider's stock worth $737,000 after purchasing an additional 241 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF traded up $0.18 during trading hours on Friday, reaching $156.11. The stock had a trading volume of 1,123,166 shares, compared to its average volume of 397,308. The business's fifty day moving average is $151.98 and its two-hundred day moving average is $146.42. 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 company has a market cap of $24.41 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 7.63 and a beta of 0.72. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the company posted $1.29 earnings per share. Cincinnati Financial's revenue was up 15.5% on a year-over-year basis. As a group, research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is presently 30.18%.

Analysts Set New Price Targets

Several brokerages have commented on CINF. Roth Capital lifted their price target on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $159.40.

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.