Cincinnati Financial Co. (NASDAQ:CINF) Stock Holdings Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 43.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,824 shares of the insurance provider’s stock after selling 13,675 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cincinnati Financial were worth $2,561,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CINF. Oak Thistle LLC increased its stake in shares of Cincinnati Financial by 177.8% in the fourth quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock worth $1,232,000 after acquiring an additional 5,485 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Cincinnati Financial in the third quarter worth $546,000. JPMorgan Chase & Co. increased its stake in shares of Cincinnati Financial by 49.5% in the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after acquiring an additional 147,542 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cincinnati Financial by 10.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock worth $15,923,000 after acquiring an additional 11,282 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Cincinnati Financial by 2.7% in the third quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock worth $26,019,000 after acquiring an additional 5,097 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CINF has been the subject of a number of recent research reports. Piper Sandler upped their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.33.

Cincinnati Financial Stock Down 1.0 %

NASDAQ CINF opened at $135.62 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a 50-day simple moving average of $143.70 and a 200 day simple moving average of $140.25. Cincinnati Financial Co. has a twelve month low of $107.75 and a twelve month high of $161.74. The stock has a market cap of $21.20 billion, a PE ratio of 6.97, a PEG ratio of 2.42 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. On average, research analysts forecast that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio is 16.65%.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the transaction, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.83% of the company’s stock.

About Cincinnati Financial

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.