Teacher Retirement System of Texas acquired a new position in Cincinnati Financial Co. (NASDAQ:CINF) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 42,812 shares of the insurance provider’s stock, valued at approximately $3,210,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Toronto Dominion Bank grew its holdings in Cincinnati Financial by 11.9% during the third quarter. Toronto Dominion Bank now owns 56,911 shares of the insurance provider’s stock valued at $4,358,000 after purchasing an additional 6,060 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Cincinnati Financial by 79.0% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 90,649 shares of the insurance provider’s stock valued at $6,941,000 after purchasing an additional 40,000 shares during the period. Bollard Group LLC grew its holdings in Cincinnati Financial by 6.8% during the third quarter. Bollard Group LLC now owns 38,428 shares of the insurance provider’s stock valued at $2,942,000 after purchasing an additional 2,436 shares during the period. Swiss National Bank grew its holdings in Cincinnati Financial by 1.1% during the third quarter. Swiss National Bank now owns 576,432 shares of the insurance provider’s stock valued at $44,137,000 after purchasing an additional 6,400 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Cincinnati Financial by 7.7% during the third quarter. Nordea Investment Management AB now owns 33,278 shares of the insurance provider’s stock valued at $2,548,000 after purchasing an additional 2,384 shares during the period. 63.34% of the stock is owned by institutional investors.
CINF has been the subject of several recent research reports. BidaskClub lowered Cincinnati Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, December 14th. Langen Mcalenn reissued a “neutral” rating on shares of Cincinnati Financial in a report on Tuesday, January 16th. Zacks Investment Research lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Cincinnati Financial in a report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $74.67.
Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Cincinnati Financial had a return on equity of 5.99% and a net margin of 18.23%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. sell-side analysts forecast that Cincinnati Financial Co. will post 3.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Wednesday, March 21st will be paid a $0.53 dividend. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.86%. Cincinnati Financial’s dividend payout ratio is 60.42%.
In other Cincinnati Financial news, Director Douglas S. Skidmore acquired 650 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $70.65 per share, with a total value of $45,922.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.25% of the company’s stock.
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Cincinnati Financial Company Profile
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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