Bank of Jackson Hole Trust Acquires New Position in Cincinnati Financial Co. (NASDAQ:CINF)

Bank of Jackson Hole Trust acquired a new stake in Cincinnati Financial Co. (NASDAQ:CINF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 700 shares of the insurance provider’s stock, valued at approximately $101,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its position in shares of Cincinnati Financial by 20.0% during the 3rd quarter. Raymond James & Associates now owns 61,228 shares of the insurance provider’s stock valued at $8,334,000 after acquiring an additional 10,208 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of 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 during the period. Eastern Bank acquired a new stake in shares of Cincinnati Financial during the 3rd quarter valued at approximately $168,000. Weaver Capital Management LLC lifted its position in shares of Cincinnati Financial by 9.6% during the 3rd quarter. Weaver Capital Management LLC now owns 4,086 shares of the insurance provider’s stock valued at $556,000 after acquiring an additional 358 shares during the period. Finally, Hartford Investment Management Co. lifted its position in shares of Cincinnati Financial by 0.8% during the 3rd quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider’s stock valued at $1,384,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CINF. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Roth Mkm lifted their price target on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler raised their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Cincinnati Financial Trading Down 0.1 %

Shares of CINF opened at $136.43 on Thursday. 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 firm has a 50 day simple moving average of $141.09 and a 200-day simple moving average of $140.71. Cincinnati Financial Co. has a 1-year low of $109.93 and a 1-year high of $161.74. The stock has a market cap of $21.33 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 8.38 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share 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%. Equities analysts forecast that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.87 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s payout ratio is presently 22.31%.

Insiders Place Their Bets

In other news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $157.19 per share, with a total value of $157,190.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.83% of the stock is owned by corporate insiders.

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.