Welch Group LLC Trims Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Welch Group LLC reduced its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 407,097 shares of the insurance provider’s stock after selling 5,058 shares during the period. Cincinnati Financial accounts for 2.6% of Welch Group LLC’s portfolio, making the stock its 12th biggest holding. Welch Group LLC’s holdings in Cincinnati Financial were worth $58,272,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Cincinnati Financial by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after purchasing an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Cincinnati Financial by 583.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock worth $52,531,000 after purchasing an additional 329,435 shares during the period. JPMorgan Chase & Co. raised 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 valued at $60,619,000 after acquiring an additional 147,542 shares during the period. SG Americas Securities LLC lifted its stake in Cincinnati Financial by 3,381.8% in the fourth quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider’s stock worth $20,228,000 after purchasing an additional 136,725 shares during the last quarter. Finally, Cibc World Market Inc. boosted its holdings in Cincinnati Financial by 1,711.7% during the 4th quarter. Cibc World Market Inc. now owns 103,505 shares of the insurance provider’s stock valued at $14,874,000 after acquiring an additional 97,792 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Down 0.1 %

Shares of CINF stock opened at $136.93 on Tuesday. The stock’s fifty day moving average price is $146.00 and its 200 day moving average price is $139.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial Co. has a 1-year low of $104.78 and a 1-year high of $161.74. The company has a market cap of $21.40 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 annualized dividend and a dividend yield of 2.54%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio is 16.65%.

Wall Street Analyst Weigh In

CINF has been the topic of a number of research analyst reports. Piper Sandler upped their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Bank of America lifted their price target on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.33.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the acquisition, the director now owns 54,500 shares in the company, valued at approximately $8,566,855. This represents a 1.87 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.83% of the stock is currently owned by insiders.

Cincinnati Financial Company 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.