Teacher Retirement System of Texas Grows Stock Holdings in Cincinnati Financial Corporation $CINF

Key Points

• Teacher Retirement System of Texas boosted its stake in Cincinnati Financial by 23.1%, buying 44,675 shares to hold 237,981 shares (about 0.15% of the company) valued at roughly $38.87M.
• Cincinnati Financial beat quarterly estimates with $3.37 EPS vs $2.86 expected and $3.09B in revenue (up 21.8% year-over-year), and raised its quarterly dividend to $0.94 (annualized $3.76, ~2.2% yield).
• Institutions own 65.24% of the stock; analyst coverage averages a "Buy" rating with a consensus target price of $174.75 (one Strong Buy, three Buy, one Hold).

Teacher Retirement System of Texas boosted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 23.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,981 shares of the insurance provider's stock after buying an additional 44,675 shares during the period. Teacher Retirement System of Texas owned approximately 0.15% of Cincinnati Financial worth $38,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its stake in Cincinnati Financial by 0.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 14,906 shares of the insurance provider's stock worth $2,357,000 after purchasing an additional 64 shares in the last quarter. Legacy Financial Strategies LLC lifted its stake in Cincinnati Financial by 0.3% in the 3rd quarter. Legacy Financial Strategies LLC now owns 22,616 shares of the insurance provider's stock worth $3,576,000 after purchasing an additional 65 shares in the last quarter. State of Wyoming lifted its stake in Cincinnati Financial by 5.4% in the 3rd quarter. State of Wyoming now owns 1,315 shares of the insurance provider's stock worth $208,000 after purchasing an additional 67 shares in the last quarter. NewEdge Wealth LLC lifted its stake in Cincinnati Financial by 0.5% in the 3rd quarter. NewEdge Wealth LLC now owns 15,339 shares of the insurance provider's stock worth $2,455,000 after purchasing an additional 75 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its stake in Cincinnati Financial by 3.9% in the 2nd quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider's stock worth $303,000 after purchasing an additional 77 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CINF shares. Bank of America lowered their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Wall Street Zen cut shares of Cincinnati Financial from a "buy" rating to a "hold" rating in a research note on Sunday, February 8th. Keefe, Bruyette & Woods lowered their target price on shares of Cincinnati Financial from $191.00 to $190.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $174.75.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $168.18 on Friday. The company's fifty day moving average price is $162.60 and its 200-day moving average price is $162.46. The firm has a market capitalization of $26.18 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 4.38 and a beta of 0.63. Cincinnati Financial Corporation has a one year low of $132.14 and a one year high of $174.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $2.86 by $0.51. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.14 EPS. On average, equities research analysts anticipate that Cincinnati Financial Corporation will post 8.39 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th were paid a $0.94 dividend. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial's dividend payout ratio is currently 24.79%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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