Cibc World Market Inc. Increases Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Cibc World Market Inc. boosted its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1,711.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 103,505 shares of the insurance provider’s stock after purchasing an additional 97,792 shares during the period. Cibc World Market Inc. owned approximately 0.07% of Cincinnati Financial worth $14,874,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Cincinnati Financial by 26.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after buying an additional 1,218,919 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Cincinnati Financial by 583.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock valued at $52,531,000 after purchasing an additional 329,435 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cincinnati Financial by 49.5% in the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after purchasing an additional 147,542 shares during the period. SG Americas Securities LLC raised its stake in shares of Cincinnati Financial by 3,381.8% in the fourth quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider’s stock worth $20,228,000 after purchasing an additional 136,725 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Cincinnati Financial during the third quarter worth about $12,795,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

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

Cincinnati Financial Stock Down 1.4 %

CINF stock opened at $137.05 on Friday. The firm’s fifty day moving average is $146.39 and its 200 day moving average is $139.44. The firm has a market cap of $21.42 billion, a PE ratio of 7.04, a P/E/G ratio of 2.43 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a $0.87 dividend. 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 payout ratio is currently 16.65%.

Insider Buying and Selling

In related news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, December 3rd. The stock was bought at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the transaction, the director now owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. The trade was a 1.87 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 2.83% of the stock is currently owned by insiders.

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.