Teachers Retirement System of The State of Kentucky Sells 786 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,544 shares of the insurance provider’s stock after selling 786 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Cincinnati Financial were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vest Financial LLC increased its holdings in Cincinnati Financial by 14.0% in the 2nd quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock valued at $44,726,000 after acquiring an additional 46,530 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Cincinnati Financial by 30.5% in the second quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock worth $4,976,000 after purchasing an additional 9,854 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cincinnati Financial by 10.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock worth $15,923,000 after buying an additional 11,282 shares in the last quarter. National Bank of Canada FI boosted its stake in Cincinnati Financial by 6.2% during the second quarter. National Bank of Canada FI now owns 143,127 shares of the insurance provider’s stock valued at $17,059,000 after buying an additional 8,353 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in Cincinnati Financial during the 3rd quarter valued at approximately $636,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 2.9 %

Shares of CINF opened at $147.80 on Wednesday. The company’s fifty day simple moving average is $147.92 and its 200-day simple moving average is $134.09. The company has a market cap of $23.10 billion, a P/E ratio of 7.60, a P/E/G ratio of 2.89 and a beta of 0.69. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a twelve month low of $100.31 and a twelve month high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the firm earned $1.66 EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, analysts expect that Cincinnati Financial Co. will post 6.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.19%. Cincinnati Financial’s payout ratio is 16.65%.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $157.19 per share, with a total value of $157,190.00. Following the purchase, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CINF. Piper Sandler increased their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Bank of America boosted their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.33.

Cincinnati Financial Profile

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.