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

Teacher Retirement System of Texas lifted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 116.5% during the third quarter, Holdings Channel reports. The firm owned 193,306 shares of the insurance provider’s stock after acquiring an additional 104,015 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cincinnati Financial were worth $30,562,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in CINF. iA Global Asset Management Inc. acquired a new position in Cincinnati Financial during the third quarter worth approximately $1,053,000. Strs Ohio increased its holdings in shares of Cincinnati Financial by 322.9% in the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after acquiring an additional 71,378 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Cincinnati Financial by 2.1% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 139,332 shares of the insurance provider’s stock valued at $22,028,000 after acquiring an additional 2,842 shares during the period. Samalin Investment Counsel LLC raised its position in Cincinnati Financial by 9.4% in the 3rd quarter. Samalin Investment Counsel LLC now owns 2,425 shares of the insurance provider’s stock valued at $383,000 after purchasing an additional 209 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new stake in Cincinnati Financial during the 3rd quarter worth $100,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of CINF opened at $157.03 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $169.86. The company has a 50-day simple moving average of $164.02 and a 200-day simple moving average of $157.85. The company has a market capitalization of $24.50 billion, a PE ratio of 11.68, a P/E/G ratio of 3.57 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. Equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial’s payout ratio is 25.89%.

Analyst Ratings Changes

A number of research analysts have commented on CINF shares. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research note on Monday, December 22nd. Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Roth Mkm restated a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.33.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was purchased at an average cost of $153.98 per share, with a total value of $153,980.00. Following the purchase, the director directly owned 58,482 shares of the company’s stock, valued at approximately $9,005,058.36. This trade represents a 1.74% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

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.