TIAA CREF Investment Management LLC Sells 45,860 Shares of Cincinnati Financial Corporation (CINF)

TIAA CREF Investment Management LLC reduced its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 13.2% during the first quarter, Holdings Channel reports. The institutional investor owned 300,993 shares of the insurance provider’s stock after selling 45,860 shares during the period. TIAA CREF Investment Management LLC’s holdings in Cincinnati Financial Corporation were worth $21,753,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Dynamic Advisors Solutions LLC increased its stake in shares of Cincinnati Financial Corporation by 0.4% in the first quarter. Dynamic Advisors Solutions LLC now owns 4,304 shares of the insurance provider’s stock worth $311,000 after buying an additional 19 shares in the last quarter. South State Corp increased its stake in shares of Cincinnati Financial Corporation by 0.3% in the first quarter. South State Corp now owns 6,090 shares of the insurance provider’s stock worth $440,000 after buying an additional 20 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Cincinnati Financial Corporation by 0.8% in the first quarter. Sequoia Financial Advisors LLC now owns 4,487 shares of the insurance provider’s stock worth $324,000 after buying an additional 37 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Cincinnati Financial Corporation by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,594 shares of the insurance provider’s stock worth $651,000 after buying an additional 40 shares in the last quarter. Finally, Moon Capital Management LLC increased its stake in shares of Cincinnati Financial Corporation by 0.7% in the first quarter. Moon Capital Management LLC now owns 6,155 shares of the insurance provider’s stock worth $445,000 after buying an additional 42 shares in the last quarter. Institutional investors and hedge funds own 63.02% of the company’s stock.

Institutional Ownership by Quarter for Cincinnati Financial Corporation (NASDAQ:CINF)

Shares of Cincinnati Financial Corporation (NASDAQ CINF) traded down 0.68% during mid-day trading on Tuesday, reaching $72.60. 55,857 shares of the company’s stock traded hands. Cincinnati Financial Corporation has a 12 month low of $68.11 and a 12 month high of $79.60. The company has a 50 day moving average of $70.55 and a 200 day moving average of $72.46. The company has a market cap of $11.96 billion, a price-to-earnings ratio of 19.99 and a beta of 0.90.

Cincinnati Financial Corporation (NASDAQ:CINF) last issued its quarterly earnings results on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.05. Cincinnati Financial Corporation had a return on equity of 6.49% and a net margin of 10.77%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. Analysts expect that Cincinnati Financial Corporation will post $2.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Wednesday, June 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, June 19th. Cincinnati Financial Corporation’s dividend payout ratio (DPR) is presently 55.10%.

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A number of analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Cincinnati Financial Corporation from a “hold” rating to a “sell” rating in a research report on Monday. Royal Bank Of Canada reiterated a “hold” rating and issued a $72.00 price target on shares of Cincinnati Financial Corporation in a research report on Monday, May 22nd. BidaskClub upgraded shares of Cincinnati Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods set a $70.00 price target on shares of Cincinnati Financial Corporation and gave the company a “hold” rating in a research report on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $78.75.

In other Cincinnati Financial Corporation news, Director David P. Osborn purchased 1,925 shares of the company’s stock in a transaction on Monday, May 8th. The shares were purchased at an average cost of $70.00 per share, with a total value of $134,750.00. Following the completion of the purchase, the director now owns 21,542 shares in the company, valued at $1,507,940. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.25% of the stock is currently owned by insiders.

About Cincinnati Financial Corporation

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.

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Corporation (NASDAQ:CINF).

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