California State Teachers Retirement System grew its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 20,126.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 41,788,505 shares of the insurance provider’s stock after purchasing an additional 41,581,904 shares during the quarter. California State Teachers Retirement System owned 0.27% of Cincinnati Financial worth $7,736,724,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Keating Financial Advisory Services Inc. purchased a new position in Cincinnati Financial during the second quarter valued at $27,000. Covestor Ltd lifted its stake in Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 83 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in Cincinnati Financial in the 4th quarter worth $29,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Cincinnati Financial during the 1st quarter valued at about $34,000. Finally, DV Equities LLC purchased a new position in shares of Cincinnati Financial during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.
Insider Activity
In related news, Director Dirk Debbink bought 1,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the acquisition, the director owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.94% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Read Our Latest Analysis on CINF
Cincinnati Financial Stock Performance
Cincinnati Financial stock opened at $169.14 on Wednesday. The company’s 50-day moving average price is $176.85 and its 200-day moving average price is $169.04. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The company has a market cap of $25.96 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 3.58 and a beta of 0.53. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period in the previous year, the business posted $1.97 EPS. On average, equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.
Cincinnati Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 17.74%.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.
The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.
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