Welch Group LLC Purchases 1,360 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Welch Group LLC increased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINFFree Report) by 0.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 410,991 shares of the insurance provider’s stock after acquiring an additional 1,360 shares during the period. Cincinnati Financial accounts for about 2.5% of Welch Group LLC’s holdings, making the stock its 21st biggest holding. Welch Group LLC’s holdings in Cincinnati Financial were worth $51,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CINF. Assetmark Inc. grew its position in shares of Cincinnati Financial by 252.2% in the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 174 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $31,000. Raleigh Capital Management Inc. acquired a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $31,000. Finally, Integrated Investment Consultants LLC acquired a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $39,000. Institutional investors own 65.24% of the company’s stock.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink acquired 1,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was purchased at an average cost of $113.47 per share, with a total value of $113,470.00. Following the acquisition, the director now owns 53,988 shares of the company’s stock, valued at approximately $6,126,018.36. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 2.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CINF has been the topic of a number of analyst reports. Piper Sandler reissued a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Citigroup upped their target price on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $126.00.

Get Our Latest Research Report on Cincinnati Financial

Cincinnati Financial Trading Up 1.9 %

CINF traded up $2.12 during midday trading on Thursday, hitting $115.79. 377,319 shares of the company were exchanged, compared to its average volume of 777,630. The firm has a market capitalization of $18.13 billion, a P/E ratio of 7.56, a P/E/G ratio of 2.43 and a beta of 0.65. Cincinnati Financial Co. has a 1-year low of $95.01 and a 1-year high of $124.35. The firm’s 50 day moving average price is $116.71 and its 200-day moving average price is $113.24. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company posted $0.89 EPS. The business’s quarterly revenue was up 31.0% on a year-over-year basis. As a group, equities analysts forecast that Cincinnati Financial Co. will post 6.37 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Tuesday, June 18th. Cincinnati Financial’s payout ratio is 21.56%.

Cincinnati Financial Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Co. (NASDAQ:CINFFree Report).

Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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