Wharton Business Group LLC Makes New $328,000 Investment in Cincinnati Financial Co. (NASDAQ:CINF)

Wharton Business Group LLC bought a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,282 shares of the insurance provider’s stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Oak Thistle LLC grew its stake in Cincinnati Financial by 177.8% during the 4th quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider’s stock worth $1,232,000 after buying an additional 5,485 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Cincinnati Financial during the third quarter worth about $546,000. JPMorgan Chase & Co. grew its position in shares of Cincinnati Financial by 49.5% during the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after acquiring an additional 147,542 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Cincinnati Financial by 10.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock valued at $15,923,000 after purchasing an additional 11,282 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Cincinnati Financial by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider’s stock valued at $26,019,000 after purchasing an additional 5,097 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average price 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 $8,566,855. This trade represents a 1.87 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 2.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on CINF. Piper Sandler raised their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Roth Mkm raised their price target on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One equities research 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

Cincinnati Financial Stock Down 0.5 %

CINF opened at $135.14 on Monday. The stock’s fifty day moving average is $140.12 and its 200-day moving average is $140.91. Cincinnati Financial Co. has a one year low of $109.93 and a one year high of $161.74. The company has a market capitalization of $21.12 billion, a PE ratio of 9.31, a P/E/G ratio of 8.30 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last issued 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 net margin of 20.22% and a return on equity of 9.01%. On average, equities analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm 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 is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. This represents a $3.48 annualized dividend and a yield of 2.58%. Cincinnati Financial’s payout ratio is 23.97%.

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.