State of Alaska Department of Revenue Has $4.29 Million Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

State of Alaska Department of Revenue trimmed its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 31.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,499 shares of the insurance provider's stock after selling 14,650 shares during the quarter. State of Alaska Department of Revenue's holdings in Cincinnati Financial were worth $4,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its stake in Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider's stock valued at $115,758,000 after purchasing an additional 277,550 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider's stock valued at $159,360,000 after purchasing an additional 187,934 shares during the last quarter. Natixis acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at $22,053,000. Bahl & Gaynor Inc. raised its stake in shares of Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider's stock valued at $131,739,000 after buying an additional 107,081 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Cincinnati Financial by 126.4% in the 2nd quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider's stock valued at $21,259,000 after buying an additional 100,487 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

Shares of CINF traded up $1.44 during trading hours on Wednesday, hitting $143.44. The stock had a trading volume of 543,554 shares, compared to its average volume of 708,329. The company's fifty day moving average is $136.55 and its two-hundred day moving average is $125.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a 52 week low of $98.65 and a 52 week high of $145.33. The stock has a market capitalization of $22.46 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 2.62 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the company earned $1.66 EPS. The firm's revenue was up 21.5% compared to the same quarter last year. On average, analysts anticipate that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial's dividend payout ratio is currently 21.56%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CINF shares. Roth Mkm increased their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Bank of America increased their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Piper Sandler increased their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.57.

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.