Sippican Capital Advisors Reduces Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Sippican Capital Advisors lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,985 shares of the insurance provider’s stock after selling 85 shares during the period. Sippican Capital Advisors’ holdings in Cincinnati Financial were worth $285,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Moisand Fitzgerald Tamayo LLC bought a new position in Cincinnati Financial in the third quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new position in Cincinnati Financial during the 3rd quarter valued at about $27,000. Legacy Investment Solutions LLC bought a new stake in Cincinnati Financial during the third quarter worth about $28,000. Future Financial Wealth Managment LLC purchased a new stake in Cincinnati Financial in the third quarter worth about $29,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 80 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $138.27 on Thursday. The firm’s 50 day moving average price is $146.98 and its 200-day moving average price is $139.45. The stock has a market capitalization of $21.61 billion, a PE ratio of 7.11, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. Cincinnati Financial Co. has a twelve month low of $104.78 and a twelve month high of $161.74. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th were issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, December 19th. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were acquired 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented 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. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Bank of America lifted their price target on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

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.