New York State Teachers Retirement System Trims Position in Cincinnati Financial Co. (NASDAQ:CINF)

New York State Teachers Retirement System reduced its position in Cincinnati Financial Co. (NASDAQ:CINF) by 10.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 146,182 shares of the insurance provider’s stock after selling 16,694 shares during the period. New York State Teachers Retirement System owned about 0.09% of Cincinnati Financial worth $19,898,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Cincinnati Financial by 1.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock worth $178,845,000 after acquiring an additional 16,451 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Cincinnati Financial by 16.2% in 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. Bahl & Gaynor Inc. grew its stake in shares of Cincinnati Financial by 10.6% during 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 during the period. AQR Capital Management LLC increased its holdings in shares of Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after buying an additional 277,550 shares during the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of Cincinnati Financial by 2.6% in the 3rd quarter. Boston Trust Walden Corp now owns 777,588 shares of the insurance provider’s stock worth $105,845,000 after buying an additional 19,793 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $140.65 on Friday. The firm has a 50-day moving average of $137.14 and a two-hundred day moving average of $126.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $21.99 billion, a P/E ratio of 7.23, a PEG ratio of 2.70 and a beta of 0.66. Cincinnati Financial Co. has a 1-year low of $98.65 and a 1-year high of $145.33.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the business earned $1.66 EPS. Cincinnati Financial’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, research analysts expect that Cincinnati Financial Co. will post 6.4 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were issued a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.30%. Cincinnati Financial’s dividend payout ratio is presently 16.65%.

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.