Arizona State Retirement System Has $4.38 Million Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Posted by on May 8th, 2023

Arizona State Retirement System raised its position in Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,809 shares of the insurance provider’s stock after buying an additional 960 shares during the period. Arizona State Retirement System’s holdings in Cincinnati Financial were worth $4,383,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its position in shares of Cincinnati Financial by 38.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 57,278 shares of the insurance provider’s stock worth $5,951,000 after purchasing an additional 15,910 shares in the last quarter. Sigma Planning Corp lifted its holdings in Cincinnati Financial by 10.7% in the fourth quarter. Sigma Planning Corp now owns 9,128 shares of the insurance provider’s stock valued at $935,000 after buying an additional 884 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Cincinnati Financial by 6.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 10,166 shares of the insurance provider’s stock valued at $1,041,000 after buying an additional 638 shares during the period. Hsbc Holdings PLC increased its stake in Cincinnati Financial by 8.0% in the third quarter. Hsbc Holdings PLC now owns 170,111 shares of the insurance provider’s stock valued at $15,415,000 after purchasing an additional 12,528 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Cincinnati Financial by 3.5% in the third quarter. BlackRock Inc. now owns 11,909,845 shares of the insurance provider’s stock valued at $1,066,764,000 after purchasing an additional 403,467 shares in the last quarter. 66.34% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

NASDAQ:CINF opened at $105.24 on Monday. Cincinnati Financial Co. has a 52 week low of $88.66 and a 52 week high of $130.66. The firm has a market cap of $16.54 billion, a price-to-earnings ratio of 877.00, a P/E/G ratio of 1.47 and a beta of 0.61. The firm’s 50-day simple moving average is $110.17 and its 200 day simple moving average is $109.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.28 and a current ratio of 0.28.

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, topping analysts’ consensus estimates of $0.68 by $0.21. Cincinnati Financial had a net margin of 0.16% and a return on equity of 5.44%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the firm earned $1.58 earnings per share. Cincinnati Financial’s revenue for the quarter was up 84.0% compared to the same quarter last year. As a group, sell-side analysts predict that Cincinnati Financial Co. will post 4.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CINF shares. BMO Capital Markets started coverage on shares of Cincinnati Financial in a research note on Thursday, January 19th. They issued a “market perform” rating and a $106.00 target price for the company. Bank of America lowered their price objective on shares of Cincinnati Financial from $120.00 to $117.00 in a research report on Tuesday, April 18th. StockNews.com started coverage on shares of Cincinnati Financial in a research report on Thursday, March 16th. They set a “hold” rating for the company. Piper Sandler increased their price objective on shares of Cincinnati Financial from $114.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 4th. Finally, Roth Capital reissued a “buy” rating on shares of Cincinnati Financial in a research report on Tuesday, February 7th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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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