Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,010 shares of the insurance provider’s stock after selling 295 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cincinnati Financial were worth $999,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CINF. Raymond James & Associates lifted its stake in shares of Cincinnati Financial by 20.0% in the third quarter. Raymond James & Associates now owns 61,228 shares of the insurance provider’s stock valued at $8,334,000 after purchasing an additional 10,208 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Cincinnati Financial by 3.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,726 shares of the insurance provider’s stock valued at $371,000 after acquiring an additional 102 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Cincinnati Financial by 39.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 9,865 shares of the insurance provider’s stock valued at $1,343,000 after acquiring an additional 2,785 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in Cincinnati Financial by 1.1% during the 3rd quarter. IFM Investors Pty Ltd now owns 31,832 shares of the insurance provider’s stock valued at $4,333,000 after acquiring an additional 360 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Cincinnati Financial by 10.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock valued at $15,923,000 after acquiring an additional 11,282 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the acquisition, the director now owns 54,500 shares in the company, valued at $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CINF. Piper Sandler raised their target price 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 raised their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Roth Mkm raised their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.00.

Cincinnati Financial Stock Performance

Shares of NASDAQ CINF opened at $135.14 on Monday. The company has a market cap of $21.12 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 8.30 and a beta of 0.71. Cincinnati Financial Co. has a 12 month low of $109.93 and a 12 month high of $161.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. The company has a 50-day simple moving average of $140.12 and a 200-day simple moving average of $140.91.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates 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, equities analysts anticipate that Cincinnati Financial Co. will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, March 24th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.58%. Cincinnati Financial’s payout ratio is 23.97%.

Cincinnati Financial 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.