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

Welch Group LLC lowered its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 407,097 shares of the insurance provider’s stock after selling 5,058 shares during the quarter. Cincinnati Financial comprises approximately 2.6% of Welch Group LLC’s portfolio, making the stock its 12th biggest position. Welch Group LLC owned 0.26% of Cincinnati Financial worth $58,272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CINF. Moisand Fitzgerald Tamayo LLC purchased a new position in Cincinnati Financial during the third quarter valued at $25,000. Legacy Investment Solutions LLC bought a new position in Cincinnati Financial in the 3rd quarter worth about $28,000. Catalyst Capital Advisors LLC purchased a new stake in Cincinnati Financial during the 3rd quarter valued at about $27,000. Future Financial Wealth Managment LLC bought a new stake in Cincinnati Financial during the 3rd quarter valued at about $29,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Cincinnati Financial by 49.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler lifted their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Bank of America upped 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average cost 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.83% of the company’s stock.

Cincinnati Financial Price Performance

NASDAQ CINF opened at $136.93 on Tuesday. 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 stock has a market capitalization of $21.40 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 2.41 and a beta of 0.71. The business’s fifty day moving average price is $146.00 and its 200-day moving average price is $139.72.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given 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 a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio 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.