Cincinnati Financial Corporation $CINF Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 141,149 shares of the insurance provider’s stock after selling 3,124 shares during the period. New York State Teachers Retirement System’s holdings in Cincinnati Financial were worth $21,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CINF. GQG Partners LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at $270,005,000. Raymond James Financial Inc. increased its position in shares of Cincinnati Financial by 558.8% in the 1st quarter. Raymond James Financial Inc. now owns 540,950 shares of the insurance provider’s stock valued at $79,909,000 after acquiring an additional 458,841 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Cincinnati Financial by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider’s stock valued at $940,130,000 after acquiring an additional 358,018 shares during the period. Nuveen LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at $47,070,000. Finally, Woodline Partners LP increased its position in shares of Cincinnati Financial by 3,392.1% in the 1st quarter. Woodline Partners LP now owns 327,800 shares of the insurance provider’s stock valued at $48,423,000 after acquiring an additional 318,413 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

NASDAQ:CINF opened at $153.02 on Friday. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $166.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $23.93 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 7.09 and a beta of 0.72. The firm’s fifty day moving average is $155.54 and its two-hundred day moving average is $148.34.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.39 by $0.58. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the company earned $1.29 earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. Research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, September 22nd. Cincinnati Financial’s dividend payout ratio is presently 30.18%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Finally, Roth Capital upped their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average target price of $157.25.

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.