Verity & Verity LLC Grows Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Verity & Verity LLC lifted its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,573 shares of the insurance provider’s stock after purchasing an additional 7,205 shares during the period. Verity & Verity LLC owned 0.06% of Cincinnati Financial worth $14,165,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CINF. American Century Companies Inc. increased its position in Cincinnati Financial by 3.2% during the second quarter. American Century Companies Inc. now owns 48,523 shares of the insurance provider’s stock worth $5,731,000 after purchasing an additional 1,485 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Cincinnati Financial in the 2nd quarter valued at approximately $89,000. Envestnet Asset Management Inc. increased its holdings in shares of Cincinnati Financial by 24.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 131,976 shares of the insurance provider’s stock worth $15,586,000 after buying an additional 25,937 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after buying an additional 187,934 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Cincinnati Financial by 4.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 56,195 shares of the insurance provider’s stock valued at $6,637,000 after acquiring an additional 2,461 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired 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 owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.83% of the stock is currently owned by company insiders.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $140.66 on Friday. The company has a market cap of $21.99 billion, a P/E ratio of 7.23, a PEG ratio of 2.25 and a beta of 0.71. The firm has a fifty day moving average price of $148.67 and a 200 day moving average price of $138.15. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 12 month low of $104.78 and a 12 month high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Cincinnati Financial’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 EPS. Sell-side analysts predict that Cincinnati Financial Co. will post 6.3 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, December 19th were given a $0.81 dividend. The ex-dividend date was Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.30%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

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.