Retirement Systems of Alabama Sells 2,524 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Posted by on May 4th, 2023

Retirement Systems of Alabama lessened its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,355 shares of the insurance provider’s stock after selling 2,524 shares during the quarter. Retirement Systems of Alabama’s holdings in Cincinnati Financial were worth $5,156,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Hills Bank & Trust Co bought a new stake in shares of Cincinnati Financial during the 4th quarter valued at about $102,000. Legacy Financial Advisors Inc. bought a new stake in shares of Cincinnati Financial during the 4th quarter worth $286,000. Washington Trust Bank bought a new stake in shares of Cincinnati Financial during the 4th quarter worth $256,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Cincinnati Financial during the 4th quarter worth $194,000. Finally, Aurora Investment Counsel bought a new stake in shares of Cincinnati Financial during the 4th quarter worth $1,116,000. Institutional investors own 66.34% of the company’s stock.

Cincinnati Financial Trading Up 0.8 %

CINF opened at $104.44 on Thursday. The business has a 50 day simple moving average of $110.87 and a two-hundred day simple moving average of $109.14. The firm has a market capitalization of $16.42 billion, a price-to-earnings ratio of 870.33, a PEG ratio of 1.37 and a beta of 0.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.30 and a quick ratio of 0.30. Cincinnati Financial Co. has a one year low of $88.66 and a one year high of $130.66.

Cincinnati Financial (NASDAQ:CINF – Get Rating) last released its quarterly earnings results on Friday, April 28th. The insurance provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.21. Cincinnati Financial had a return on equity of 5.52% and a net margin of 0.16%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the company posted $1.58 EPS. Cincinnati Financial’s quarterly revenue was up 84.0% compared to the same quarter last year. Analysts predict that Cincinnati Financial Co. will post 4.59 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on CINF shares. BMO Capital Markets assumed coverage on shares of Cincinnati Financial in a research report on Thursday, January 19th. They set a “market perform” rating and a $106.00 price target on the stock. Royal Bank of Canada cut their price target on shares of Cincinnati Financial from $125.00 to $118.00 in a research report on Monday. StockNews.com started coverage on Cincinnati Financial in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $117.00 target price (down previously from $119.00) on shares of Cincinnati Financial in a research note on Tuesday, April 18th. Finally, Piper Sandler boosted their target price on Cincinnati Financial from $114.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, April 4th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $117.17.

Cincinnati Financial Profile

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Cincinnati Financial Corp. provides property casualty and life insurance services. It operates through the following segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment includes commercial casualty, commercial property, commercial auto, worker’s compensation, and other commercial lines insurance.

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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