Allworth Financial LP Has $251,000 Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Allworth Financial LP boosted its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 16.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,821 shares of the insurance provider’s stock after buying an additional 261 shares during the quarter. Allworth Financial LP’s holdings in Cincinnati Financial were worth $251,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Oak Thistle LLC increased its position in Cincinnati Financial by 177.8% during the fourth quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock worth $1,232,000 after buying an additional 5,485 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Cincinnati Financial in the third quarter valued at about $546,000. JPMorgan Chase & Co. grew its position 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 purchasing an additional 147,542 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position 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 valued at $15,923,000 after purchasing an additional 11,282 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position 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 valued at $26,019,000 after purchasing an additional 5,097 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CINF has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Roth Mkm raised their price target on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler raised their price target on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $151.00.

Cincinnati Financial Stock Down 0.5 %

NASDAQ CINF opened at $135.14 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The firm has a 50-day simple moving average of $140.46 and a 200 day simple moving average of $140.64. Cincinnati Financial Co. has a twelve month low of $109.93 and a twelve month high of $161.74. The stock has a market cap of $21.13 billion, a PE ratio of 9.31, a PEG ratio of 8.35 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, beating the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. On average, research analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Monday, March 24th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio (DPR) is presently 22.31%.

Insiders Place Their Bets

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