California State Teachers Retirement System lowered its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.9% during the first quarter, Holdings Channel reports. The fund owned 264,175 shares of the insurance provider’s stock after selling 7,921 shares during the period. California State Teachers Retirement System’s holdings in Cincinnati Financial were worth $19,618,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Mariner LLC boosted its stake in shares of Cincinnati Financial by 78.9% in the 1st quarter. Mariner LLC now owns 5,898 shares of the insurance provider’s stock valued at $438,000 after purchasing an additional 2,601 shares during the last quarter. Natixis boosted its stake in Cincinnati Financial by 30.5% during the 1st quarter. Natixis now owns 15,088 shares of the insurance provider’s stock worth $1,120,000 after acquiring an additional 3,527 shares during the last quarter. United Capital Financial Advisers LLC boosted its stake in Cincinnati Financial by 5.0% during the 1st quarter. United Capital Financial Advisers LLC now owns 26,963 shares of the insurance provider’s stock worth $2,002,000 after acquiring an additional 1,281 shares during the last quarter. Southeast Asset Advisors Inc. boosted its stake in Cincinnati Financial by 42.8% during the 1st quarter. Southeast Asset Advisors Inc. now owns 25,325 shares of the insurance provider’s stock worth $1,881,000 after acquiring an additional 7,585 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Cincinnati Financial during the 1st quarter worth approximately $624,000. 63.19% of the stock is currently owned by hedge funds and other institutional investors.
Cincinnati Financial stock opened at $67.77 on Friday. Cincinnati Financial Co. has a fifty-two week low of $67.59 and a fifty-two week high of $81.98. The company has a market cap of $11.29 billion, a P/E ratio of 24.73 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.27 and a current ratio of 0.27.
Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Wednesday, April 25th. The insurance provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.08). Cincinnati Financial had a return on equity of 6.14% and a net margin of 14.96%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned $0.59 EPS. The firm’s revenue was down 19.6% compared to the same quarter last year. analysts expect that Cincinnati Financial Co. will post 2.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Wednesday, June 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 19th. This represents a $2.12 annualized dividend and a yield of 3.13%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 77.37%.
Several research analysts recently weighed in on CINF shares. BidaskClub raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a research note on Friday, March 30th. Zacks Investment Research lowered shares of Cincinnati Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $76.00.
In related news, Director David P. Osborn bought 370 shares of the company’s stock in a transaction on Monday, May 7th. The shares were purchased at an average cost of $70.16 per share, for a total transaction of $25,959.20. Following the acquisition, the director now owns 23,591 shares of the company’s stock, valued at approximately $1,655,144.56. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 9.25% of the company’s stock.
About Cincinnati Financial
Cincinnati Financial Corporation provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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