New York State Teachers Retirement System Sells 7,857 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

New York State Teachers Retirement System lessened its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,325 shares of the insurance provider’s stock after selling 7,857 shares during the quarter. New York State Teachers Retirement System’s holdings in Cincinnati Financial were worth $19,877,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Catalyst Capital Advisors LLC bought a new position in Cincinnati Financial in the 3rd quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Cincinnati Financial in the 3rd quarter valued at $28,000. Y.D. More Investments Ltd increased its stake in shares of Cincinnati Financial by 121.8% in the 4th quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock valued at $28,000 after buying an additional 106 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Cincinnati Financial in the 3rd quarter valued at $42,000. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

CINF has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a report on Thursday. Roth Mkm boosted their price target on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. 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 report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.00.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $136.97 on Monday. Cincinnati Financial Co. has a 12 month low of $109.93 and a 12 month high of $161.74. The stock’s 50 day moving average is $141.69 and its 200-day moving average is $140.55. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $21.41 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 2.42 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Equities research analysts expect that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. Cincinnati Financial’s dividend payout ratio is presently 16.65%.

Insider Activity

In other news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the purchase, the director now owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. The trade was a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is owned by corporate insiders.

Cincinnati Financial 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.