Kentucky Trust Co Acquires Shares of 358 Cincinnati Financial Co. (NASDAQ:CINF)

Kentucky Trust Co acquired a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 358 shares of the insurance provider’s stock, valued at approximately $51,000.

A number of other hedge funds have also added to or reduced their stakes in CINF. Livforsakringsbolaget Skandia Omsesidigt increased its position in Cincinnati Financial by 1,111.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 763 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 700 shares during the period. Exchange Traded Concepts LLC purchased a new position in Cincinnati Financial during the 3rd quarter valued at $174,000. Creative Planning increased its position in Cincinnati Financial by 167.2% during the 3rd quarter. Creative Planning now owns 143,869 shares of the insurance provider’s stock valued at $19,583,000 after purchasing an additional 90,021 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Cincinnati Financial by 1.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,314 shares of the insurance provider’s stock worth $2,221,000 after buying an additional 256 shares during the period. Finally, V Square Quantitative Management LLC grew its position in shares of Cincinnati Financial by 11.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,070 shares of the insurance provider’s stock worth $418,000 after buying an additional 307 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $133.67 on Thursday. The stock has a market cap of $20.90 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 2.42 and a beta of 0.71. The firm’s 50-day moving average is $142.92 and its 200 day moving average is $140.47. Cincinnati Financial Co. has a 1 year low of $107.75 and a 1 year high of $161.74. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. Sell-side analysts anticipate that Cincinnati Financial Co. will post 6.33 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The business 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 dividend of $0.87 per share. The ex-dividend date is Monday, March 24th. This represents a $3.48 annualized dividend and a yield of 2.60%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CINF. Roth Mkm upped their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler upped their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.67.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average price of $157.19 per share, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.