Principal Financial Group Inc. Trims Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Principal Financial Group Inc. trimmed its position in Cincinnati Financial Co. (NASDAQ:CINF) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,447 shares of the insurance provider’s stock after selling 1,702 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Cincinnati Financial worth $27,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its holdings 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 acquiring an additional 68 shares in the last quarter. Simon Quick Advisors LLC increased its holdings 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 acquiring an additional 74 shares in the last quarter. Wealth Dimensions Group Ltd. increased its holdings 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 acquiring an additional 75 shares in the last quarter. Park Avenue Securities LLC boosted its stake 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 purchasing an additional 78 shares during the period. Finally, Hartford Investment Management Co. boosted its stake in Cincinnati Financial by 0.8% in the 3rd quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider’s stock worth $1,384,000 after purchasing an additional 80 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the acquisition, the director now owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.83% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CINF shares. Piper Sandler upped their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Roth Mkm upped their price target on Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Cincinnati Financial Stock Down 0.5 %

NASDAQ CINF opened at $135.14 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The company has a market capitalization of $21.12 billion, a P/E ratio of 9.31, a P/E/G ratio of 8.30 and a beta of 0.71. Cincinnati Financial Co. has a one year low of $109.93 and a one year high of $161.74. The stock has a 50 day moving average price of $140.12 and a 200-day moving average price of $140.71.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. As a group, equities analysts predict 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. Stockholders of record on Monday, March 24th will be given a dividend of $0.87 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s dividend payout ratio is currently 23.97%.

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.