California State Teachers Retirement System Has $41.79 Million Stock Holdings in Cincinnati Financial Corporation $CINF

California State Teachers Retirement System boosted its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 9.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 225,713 shares of the insurance provider's stock after acquiring an additional 19,112 shares during the period. California State Teachers Retirement System owned 0.15% of Cincinnati Financial worth $41,788,505 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Cincinnati Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider's stock valued at $671,265,000 after purchasing an additional 25,888 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Cincinnati Financial during the second quarter valued at approximately $3,585,000. GQG Partners LLC acquired a new stake in Cincinnati Financial in the 2nd quarter worth approximately $216,679,000. Eurizon Capital SGR S.p.A. purchased a new stake in Cincinnati Financial during the 4th quarter worth approximately $1,231,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Cincinnati Financial in the 2nd quarter valued at approximately $14,412,000. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Trading Down 0.3%

CINF stock traded down $0.59 during trading on Tuesday, hitting $171.43. 170,502 shares of the company traded hands, compared to its average volume of 733,607. The company has a 50-day moving average of $175.25 and a 200-day moving average of $169.28. The firm has a market capitalization of $26.31 billion, a PE ratio of 8.08, a P/E/G ratio of 3.55 and a beta of 0.53. Cincinnati Financial Corporation has a 1 year low of $150.00 and a 1 year high of $194.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The company had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter in the previous year, the business posted $1.97 EPS. Analysts predict that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid a dividend of $0.94 per share. 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 currently 17.74%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CINF shares. Keefe, Bruyette & Woods decreased their price target on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a report on Wednesday, August 5th. Roth Capital raised their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Bank of America cut shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Piper Sandler increased their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $195.40.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk Debbink purchased 1,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was purchased at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the transaction, the director owned 62,059 shares in the company, valued at $10,651,806.76. The trade was a 1.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.94% of the company's stock.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers' compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.

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