Illinois Municipal Retirement Fund Buys 5,591 Shares of Cincinnati Financial Corporation $CINF

Illinois Municipal Retirement Fund grew its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 4.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 121,720 shares of the insurance provider’s stock after buying an additional 5,591 shares during the period. Illinois Municipal Retirement Fund’s holdings in Cincinnati Financial were worth $19,879,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Lodestone Wealth Management LLC acquired a new stake in Cincinnati Financial during the 4th quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Cincinnati Financial in the 3rd quarter worth approximately $30,000. Legacy Wealth Managment LLC ID lifted its position in shares of Cincinnati Financial by 78.8% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 108 shares during the period. Oakworth Capital Inc. bought a new stake in shares of Cincinnati Financial in the 4th quarter valued at $46,000. Finally, West Branch Capital LLC acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth $48,000. 65.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CINF. Piper Sandler lifted their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, May 27th. Roth Mkm boosted their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Bank of America cut their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $183.25.

Cincinnati Financial Stock Up 1.6%

Cincinnati Financial stock opened at $166.43 on Thursday. The company has a market capitalization of $25.75 billion, a PE ratio of 9.52, a PEG ratio of 3.56 and a beta of 0.57. Cincinnati Financial Corporation has a 12-month low of $143.37 and a 12-month high of $174.27. The firm’s fifty day moving average is $163.26 and its 200 day moving average is $163.45. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the firm posted ($0.24) earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be paid a $0.94 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.50%.

Cincinnati Financial Profile

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.