Harbor Capital Advisors Inc. Boosts Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Harbor Capital Advisors Inc. increased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,298 shares of the insurance provider’s stock after buying an additional 151 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Cincinnati Financial were worth $474,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial 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 transaction, the director now owns 54,500 shares of the company’s stock, valued at $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $139.49 on Wednesday. The business has a 50-day simple moving average of $149.09 and a 200-day simple moving average of $137.94. The company has a market cap of $21.80 billion, a PE ratio of 7.17, a P/E/G ratio of 2.89 and a beta of 0.71. Cincinnati Financial Co. has a one year low of $104.78 and a one year high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm earned $1.66 EPS. The company’s revenue was up 21.5% on a year-over-year basis. On average, equities research analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, December 19th. 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.