Retirement Systems of Alabama lowered its position in Cincinnati Financial Co. (NASDAQ:CINF) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,088 shares of the insurance provider’s stock after selling 1,201 shares during the quarter. Retirement Systems of Alabama’s holdings in Cincinnati Financial were worth $4,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Select Equity Group L.P. increased its stake in shares of Cincinnati Financial by 29.6% in the first quarter. Select Equity Group L.P. now owns 4,770,980 shares of the insurance provider’s stock valued at $354,293,000 after purchasing an additional 1,089,273 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Cincinnati Financial by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 2,762,277 shares of the insurance provider’s stock valued at $205,127,000 after purchasing an additional 61,493 shares during the period. Royal Bank of Canada boosted its holdings in shares of Cincinnati Financial by 3.2% in the first quarter. Royal Bank of Canada now owns 2,065,205 shares of the insurance provider’s stock valued at $153,361,000 after acquiring an additional 64,370 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Cincinnati Financial by 1.8% in the first quarter. Legal & General Group Plc now owns 894,492 shares of the insurance provider’s stock valued at $66,439,000 after acquiring an additional 16,211 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Cincinnati Financial by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 878,307 shares of the insurance provider’s stock valued at $65,223,000 after acquiring an additional 46,100 shares in the last quarter. Institutional investors own 62.96% of the company’s stock.

Shares of NASDAQ:CINF opened at $74.44 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.11. The company has a market cap of $12.11 billion, a P/E ratio of 27.17 and a beta of 0.85. Cincinnati Financial Co. has a 1-year low of $66.33 and a 1-year high of $81.98.

The company also recently declared a quarterly dividend, which was paid on Monday, July 16th. Investors of record on Wednesday, June 20th were given a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, June 19th. This represents a $2.12 annualized dividend and a dividend yield of 2.85%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 77.37%.

Several research analysts have recently issued reports on CINF shares. BidaskClub upgraded shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Zacks Investment Research upgraded shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Finally, Sandler O’Neill restated a “neutral” rating on shares of Cincinnati Financial in a report on Friday. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Cincinnati Financial presently has an average rating of “Hold” and an average target price of $76.00.

In other news, Director David P. Osborn purchased 370 shares of Cincinnati Financial stock in a transaction that occurred on Monday, May 7th. The stock was acquired at an average price of $70.16 per share, for a total transaction of $25,959.20. Following the transaction, the director now owns 23,591 shares in the company, valued at $1,655,144.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.07% of the stock is currently owned by corporate insiders.

About Cincinnati Financial

Cincinnati Financial Corporation provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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