Illinois Municipal Retirement Fund Has $14.39 Million Position in Cincinnati Financial Corporation (NASDAQ:CINF)

Illinois Municipal Retirement Fund increased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,436 shares of the insurance provider’s stock after purchasing an additional 8,445 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Cincinnati Financial worth $14,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CINF. Vanguard Group Inc. grew its holdings in shares of Cincinnati Financial by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider’s stock worth $2,754,399,000 after purchasing an additional 173,417 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cincinnati Financial by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider’s stock worth $863,099,000 after buying an additional 224,033 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cincinnati Financial by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 3,930,022 shares of the insurance provider’s stock valued at $563,323,000 after buying an additional 185,705 shares during the period. Northern Trust Corp increased its holdings in Cincinnati Financial by 10.8% in the 4th quarter. Northern Trust Corp now owns 1,672,210 shares of the insurance provider’s stock valued at $240,297,000 after buying an additional 162,714 shares during the period. Finally, Norges Bank bought a new position in Cincinnati Financial in the 4th quarter valued at about $223,959,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Wall Street Zen raised shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.40.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $145.76 on Friday. Cincinnati Financial Corporation has a 1 year low of $114.41 and a 1 year high of $161.75. 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 firm has a market cap of $22.78 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 9.54 and a beta of 0.78. The company has a fifty day moving average price of $145.07 and a 200-day moving average price of $142.22.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.37. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.70 billion. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The company’s revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. As a group, equities research analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, June 23rd. Cincinnati Financial’s payout ratio is currently 37.95%.

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.