Texas Permanent School Fund Corp Sells 6,497 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Texas Permanent School Fund Corp decreased its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 20.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,959 shares of the insurance provider’s stock after selling 6,497 shares during the period. Texas Permanent School Fund Corp’s holdings in Cincinnati Financial were worth $3,066,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its position in shares of Cincinnati Financial by 4.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock valued at $23,367,000 after buying an additional 7,709 shares during the last quarter. UBS Group AG raised its position in shares of Cincinnati Financial by 15.4% during the fourth quarter. UBS Group AG now owns 349,153 shares of the insurance provider’s stock valued at $36,123,000 after buying an additional 46,595 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Cincinnati Financial by 40.6% during the first quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock valued at $20,904,000 after buying an additional 48,597 shares during the last quarter. United Advisor Group LLC bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at approximately $888,000. Finally, Norges Bank bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at approximately $179,305,000. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 0.5 %

CINF stock opened at $135.82 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a twelve month low of $96.86 and a twelve month high of $139.34. The stock has a market capitalization of $21.22 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 2.60 and a beta of 0.66. The firm’s fifty day simple moving average is $128.98 and its two-hundred day simple moving average is $121.52.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the business posted $1.21 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts anticipate that Cincinnati Financial Co. will post 6.58 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is 21.56%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Roth Mkm lifted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Bank of America decreased their price target on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus price target of $133.57.

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.