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

New York State Teachers Retirement System lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 0.09% of Cincinnati Financial worth $19,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH lifted its position in 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 lifted its holdings in shares of Cincinnati Financial by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider's stock worth $159,360,000 after purchasing an additional 187,934 shares during the period. Bahl & Gaynor Inc. boosted its position in Cincinnati Financial by 10.6% in the second 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 last quarter. AQR Capital Management LLC boosted its position in Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider's stock valued at $115,758,000 after buying an additional 277,550 shares during the last quarter. Finally, Boston Trust Walden Corp increased its holdings in 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.

Cincinnati Financial Price Performance

NASDAQ CINF traded down $0.18 during trading hours on Friday, reaching $140.65. The company's stock had a trading volume of 393,565 shares, compared to its average volume of 708,540. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Co. has a 1-year low of $98.65 and a 1-year high of $145.33. The company's 50-day moving average is $137.14 and its two-hundred day moving average is $126.09. The firm has a market capitalization of $21.99 billion, a price-to-earnings ratio of 7.23, a P/E/G ratio of 2.70 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company's quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the business earned $1.66 EPS. On average, equities analysts predict that Cincinnati Financial Co. will post 6.4 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.81 per share. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.30%. Cincinnati Financial's dividend payout ratio is currently 16.65%.

Analyst Ratings Changes

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

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.