ING Groep NV Sells 810 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

ING Groep NV lessened its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,065 shares of the insurance provider’s stock after selling 810 shares during the quarter. ING Groep NV’s holdings in Cincinnati Financial were worth $1,015,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Cincinnati Financial by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after purchasing an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Cincinnati Financial by 583.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock worth $52,531,000 after acquiring an additional 329,435 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after acquiring an additional 147,542 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Cincinnati Financial by 3,381.8% during the 4th quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider’s stock valued at $20,228,000 after acquiring an additional 136,725 shares during the period. Finally, Cibc World Market Inc. grew its position in shares of Cincinnati Financial by 1,711.7% during the 4th quarter. Cibc World Market Inc. now owns 103,505 shares of the insurance provider’s stock valued at $14,874,000 after acquiring an additional 97,792 shares during the period. Institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CINF shares. Roth Mkm lifted their target price on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler lifted their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $151.00.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the acquisition, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This represents a 1.87 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.83% of the stock is currently owned by company insiders.

Cincinnati Financial Stock Down 0.5 %

CINF opened at $135.14 on Monday. Cincinnati Financial Co. has a 52 week low of $109.93 and a 52 week high of $161.74. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a 50-day simple moving average of $140.12 and a two-hundred day simple moving average of $140.91. The company has a market capitalization 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 (NASDAQ:CINF) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. Analysts forecast that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a $0.87 dividend. The ex-dividend date is Monday, March 24th. This is a positive change 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 dividend payout ratio (DPR) is 23.97%.

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.