Cincinnati Financial Corporation (NASDAQ:CINF) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,273 shares of the insurance provider's stock after buying an additional 5,948 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Cincinnati Financial worth $21,312,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank lifted its stake in Cincinnati Financial by 0.4% in the first quarter. Amalgamated Bank now owns 32,163 shares of the insurance provider's stock worth $4,751,000 after acquiring an additional 135 shares during the period. Essex Financial Services Inc. bought a new stake in shares of Cincinnati Financial in the 1st quarter valued at about $263,000. Allspring Global Investments Holdings LLC lifted its position in shares of Cincinnati Financial by 11.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,842 shares of the insurance provider's stock worth $1,156,000 after purchasing an additional 832 shares during the period. Vista Investment Partners II LLC bought a new position in shares of Cincinnati Financial during the first quarter valued at approximately $202,000. Finally, 3Chopt Investment Partners LLC purchased a new position in Cincinnati Financial during the first quarter valued at approximately $231,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

CINF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Wall Street Zen upgraded Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $150.50.

Cincinnati Financial Stock Up 1.2%

Shares of NASDAQ CINF traded up $1.77 during trading hours on Thursday, hitting $147.88. 104,749 shares of the stock were exchanged, compared to its average volume of 652,556. The company has a market cap of $23.11 billion, a PE ratio of 16.13, a PEG ratio of 9.92 and a beta of 0.76. Cincinnati Financial Corporation has a 12 month low of $114.75 and a 12 month high of $161.75. 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 firm has a fifty day moving average price of $146.34 and a 200-day moving average price of $142.11.

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

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, June 23rd. Cincinnati Financial's dividend payout ratio (DPR) is presently 37.95%.

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.