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

California State Teachers Retirement System trimmed its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 206,601 shares of the insurance provider’s stock after selling 3,436 shares during the period. California State Teachers Retirement System’s holdings in Cincinnati Financial were worth $32,509,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth approximately $25,000. Motiv8 Investments LLC acquired a new stake in Cincinnati Financial in the fourth quarter valued at $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in Cincinnati Financial in the first quarter valued at $34,000. DV Equities LLC bought a new position in Cincinnati Financial during the 4th quarter valued at $36,000. Finally, Legacy Wealth Managment LLC ID boosted its stake in Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 108 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

CINF stock opened at $177.68 on Friday. The stock’s 50 day simple moving average is $174.77 and its 200 day simple moving average is $167.16. Cincinnati Financial Corporation has a 12-month low of $143.87 and a 12-month high of $194.81. The firm has a market cap of $27.27 billion, a P/E ratio of 8.38, a P/E/G ratio of 3.65 and a beta of 0.54. The company has a current ratio of 0.31, a quick ratio of 0.28 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the firm earned $1.97 EPS. As a group, equities research analysts predict that Cincinnati Financial Corporation will post 8.59 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on CINF shares. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, June 26th. Roth Capital upped their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $197.00 to $193.00 in a research note on Thursday. Finally, Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.60.

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.