New York State Common Retirement Fund Sells 2,500 Shares of Cincinnati Financial Corporation (NASDAQ:CINF)

New York State Common Retirement Fund lowered its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,673 shares of the insurance provider's stock after selling 2,500 shares during the period. New York State Common Retirement Fund's holdings in Cincinnati Financial were worth $11,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management boosted its stake in Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after buying an additional 76 shares during the period. Alpine Bank Wealth Management acquired a new stake in Cincinnati Financial during the first quarter worth approximately $30,000. Capital Advisors Ltd. LLC raised its holdings in Cincinnati Financial by 5,000.0% during the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock worth $38,000 after purchasing an additional 250 shares in the last quarter. GoalVest Advisory LLC raised its holdings in Cincinnati Financial by 65.4% during the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after purchasing an additional 102 shares in the last quarter. Finally, Whipplewood Advisors LLC increased its holdings in shares of Cincinnati Financial by 333.3% in the 1st quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock valued at $38,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Performance

CINF stock traded up $1.70 during mid-day trading on Friday, reaching $150.73. The company had a trading volume of 699,338 shares, compared to its average volume of 646,500. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $23.56 billion, a P/E ratio of 16.44, a P/E/G ratio of 10.01 and a beta of 0.76. Cincinnati Financial Corporation has a one year low of $115.43 and a one year high of $161.75. The stock's 50-day simple moving average is $147.90 and its two-hundred day simple moving average is $142.34.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.61) by $0.37. Cincinnati Financial had a net margin of 13.19% and a return on equity of 6.55%. The business had revenue of $2.34 billion for the quarter, compared to analysts' expectations of $2.70 billion. During the same period in the previous year, the business earned $1.72 earnings per share. The company's revenue was up 13.2% on a year-over-year basis. Research analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 23rd were paid a $0.87 dividend. The ex-dividend date was Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a yield of 2.31%. Cincinnati Financial's dividend payout ratio is currently 37.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CINF shares. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $150.00 to $167.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Cincinnati Financial has an average rating of "Moderate Buy" and a consensus target price of $155.25.

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.