Principal Financial Group Inc. Sells 6,212 Shares of Cincinnati Financial Corporation $CINF

Principal Financial Group Inc. decreased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,639 shares of the insurance provider’s stock after selling 6,212 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Cincinnati Financial worth $27,927,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Cincinnati Financial in the 2nd quarter worth about $235,714,000. Vanguard Group Inc. raised its position in shares of Cincinnati Financial by 1.6% in the second quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock valued at $2,914,738,000 after buying an additional 317,033 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after buying an additional 262,715 shares during the period. Amundi grew its position in Cincinnati Financial by 113.6% during the second quarter. Amundi now owns 454,996 shares of the insurance provider’s stock worth $66,479,000 after buying an additional 242,020 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after acquiring an additional 173,343 shares during the period. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 0.7%

CINF opened at $172.65 on Friday. The company has a market cap of $26.94 billion, a P/E ratio of 12.85, a PEG ratio of 3.89 and a beta of 0.66. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $163.57 and its 200-day moving average is $158.92. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $174.27.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 25.89%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Cincinnati Financial from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Roth Mkm reissued a “buy” rating and issued a $175.00 target price on shares of Cincinnati Financial in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Finally, Piper Sandler increased their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.