Hartford Investment Management Co. Sells 350 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Hartford Investment Management Co. reduced its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,818 shares of the insurance provider’s stock after selling 350 shares during the period. Hartford Investment Management Co.’s holdings in Cincinnati Financial were worth $1,411,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its position in Cincinnati Financial by 2.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider’s stock worth $460,000 after buying an additional 68 shares during the period. Simon Quick Advisors LLC increased its position in Cincinnati Financial by 5.0% in the 4th quarter. Simon Quick Advisors LLC now owns 1,562 shares of the insurance provider’s stock worth $224,000 after buying an additional 74 shares during the period. Wealth Dimensions Group Ltd. increased its position in Cincinnati Financial by 0.9% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock worth $1,098,000 after buying an additional 75 shares during the period. Park Avenue Securities LLC increased its position in Cincinnati Financial by 0.4% in the 4th quarter. Park Avenue Securities LLC now owns 17,473 shares of the insurance provider’s stock worth $2,511,000 after buying an additional 78 shares during the period. Finally, Tidal Investments LLC increased its position in Cincinnati Financial by 1.4% in the 3rd quarter. Tidal Investments LLC now owns 5,819 shares of the insurance provider’s stock worth $792,000 after buying an additional 80 shares during the period. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $136.97 on Friday. The business’s fifty day moving average price is $142.07 and its two-hundred day moving average price is $140.40. Cincinnati Financial Co. has a fifty-two week low of $109.93 and a fifty-two week high of $161.74. The stock has a market capitalization of $21.41 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. As a group, analysts predict that Cincinnati Financial Co. will post 6.33 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.54%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s dividend payout ratio is 16.65%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CINF. Piper Sandler boosted 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. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Roth Mkm boosted their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and an average target price of $151.00.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction on 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 completion of the transaction, the director now directly 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.83% of the company’s stock.

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.