Louisiana State Employees Retirement System Takes $983,000 Position in Cincinnati Financial Co. (NASDAQ:CINF)

Louisiana State Employees Retirement System acquired a new stake in Cincinnati Financial Co. (NASDAQ:CINF) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,500 shares of the insurance provider’s stock, valued at approximately $983,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CINF. Los Angeles Capital Management LLC grew its position in shares of Cincinnati Financial by 554.7% in the third quarter. Los Angeles Capital Management LLC now owns 1,109,299 shares of the insurance provider’s stock valued at $113,470,000 after purchasing an additional 939,861 shares during the period. AQR Capital Management LLC grew its position in shares of Cincinnati Financial by 1,870.3% in the third quarter. AQR Capital Management LLC now owns 274,030 shares of the insurance provider’s stock valued at $28,031,000 after purchasing an additional 260,122 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $21,036,000. London Co. of Virginia grew its position in Cincinnati Financial by 7.8% during the third quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock valued at $283,658,000 after acquiring an additional 200,414 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Cincinnati Financial by 92.6% during the third quarter. The Manufacturers Life Insurance Company now owns 236,410 shares of the insurance provider’s stock valued at $24,182,000 after acquiring an additional 113,653 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 0.8 %

NASDAQ:CINF opened at $119.92 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. Cincinnati Financial Co. has a one year low of $95.01 and a one year high of $124.35. The business’s 50-day simple moving average is $117.61 and its 200 day simple moving average is $108.96. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 2.44 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, topping the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The business had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that Cincinnati Financial Co. will post 6.33 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, March 19th were paid a $0.81 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. The ex-dividend date was Monday, March 18th. This represents a $3.24 annualized dividend and a dividend yield of 2.70%. Cincinnati Financial’s payout ratio is 27.76%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Piper Sandler reissued a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Citigroup boosted their price target on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $123.57.

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.