California State Teachers Retirement System Increases Stock Position in Cincinnati Financial Corporation $CINF

California State Teachers Retirement System lifted its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 20,126.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,788,505 shares of the insurance provider’s stock after acquiring an additional 41,581,904 shares during the quarter. California State Teachers Retirement System owned 27.23% of Cincinnati Financial worth $7,736,724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Bison Wealth LLC purchased a new stake in Cincinnati Financial during the 4th quarter valued at $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after buying an additional 525 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after buying an additional 173,343 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Cincinnati Financial in the second quarter worth $101,000. Finally, Cerity Partners LLC grew its holdings in shares of Cincinnati Financial by 10.8% in the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after acquiring an additional 4,674 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

CINF opened at $169.14 on Wednesday. The company has a 50 day simple moving average of $176.85 and a two-hundred day simple moving average of $169.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $25.96 billion, a P/E ratio of 7.98, a PEG ratio of 3.58 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.

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

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk Debbink acquired 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the transaction, the director directly owned 62,059 shares of the company’s stock, valued at approximately $10,651,806.76. The trade was a 1.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.94% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CINF shares. Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Bank of America cut Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Keefe, Bruyette & Woods cut their price target on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. Roth Capital upped their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Piper Sandler increased their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $195.40.

About Cincinnati Financial

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.