California Public Employees Retirement System Has $57.90 Million Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

California Public Employees Retirement System grew its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 559,675 shares of the insurance provider’s stock after acquiring an additional 6,527 shares during the period. California Public Employees Retirement System’s holdings in Cincinnati Financial were worth $57,904,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. CWM LLC increased its holdings in shares of Cincinnati Financial by 10.0% during the third quarter. CWM LLC now owns 1,991 shares of the insurance provider’s stock worth $204,000 after purchasing an additional 181 shares during the period. IFP Advisors Inc increased its holdings in shares of Cincinnati Financial by 27.6% during the third quarter. IFP Advisors Inc now owns 1,109 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 240 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Cincinnati Financial by 18.0% during the third quarter. Global Retirement Partners LLC now owns 1,519 shares of the insurance provider’s stock worth $153,000 after purchasing an additional 232 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Cincinnati Financial during the third quarter worth approximately $51,000. Finally, Czech National Bank increased its holdings in shares of Cincinnati Financial by 47.3% during the third quarter. Czech National Bank now owns 27,416 shares of the insurance provider’s stock worth $2,804,000 after purchasing an additional 8,806 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Down 1.2 %

NASDAQ:CINF opened at $118.44 on Friday. The company has a 50-day moving average price of $117.73 and a 200-day moving average price of $109.02. Cincinnati Financial Co. has a 12 month low of $95.01 and a 12 month high of $124.35. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. The stock has a market cap of $18.55 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 2.42 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, April 25th. The insurance provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company posted $0.89 EPS. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. Equities analysts predict that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Wall Street Analyst Weigh In

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

About Cincinnati Financial

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.