Clarus Wealth Advisors purchased a new stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 495 shares of the insurance provider’s stock, valued at approximately $38,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Pennsylvania Trust Co increased its stake in Cincinnati Financial by 1.3% in the fourth quarter. Pennsylvania Trust Co now owns 10,031 shares of the insurance provider’s stock worth $777,000 after purchasing an additional 130 shares during the period. American International Group Inc. increased its stake in Cincinnati Financial by 6.5% in the third quarter. American International Group Inc. now owns 67,432 shares of the insurance provider’s stock worth $5,179,000 after purchasing an additional 4,098 shares during the period. Bank of Montreal Can increased its stake in Cincinnati Financial by 33.0% in the third quarter. Bank of Montreal Can now owns 300,621 shares of the insurance provider’s stock worth $23,091,000 after purchasing an additional 74,534 shares during the period. Alethea Capital Management LLC purchased a new stake in Cincinnati Financial in the third quarter worth $569,000. Finally, Korea Investment CORP increased its stake in Cincinnati Financial by 60.1% in the third quarter. Korea Investment CORP now owns 2,325 shares of the insurance provider’s stock worth $179,000 after purchasing an additional 873 shares during the period. Institutional investors own 63.54% of the company’s stock.
CINF stock opened at $84.50 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.27 and a current ratio of 0.28. Cincinnati Financial Co. has a twelve month low of $66.33 and a twelve month high of $85.91. The firm has a market capitalization of $13.68 billion, a price-to-earnings ratio of 25.22 and a beta of 0.62.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, March 20th will be given a dividend of $0.56 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, March 19th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.65%. Cincinnati Financial’s dividend payout ratio is presently 63.28%.
A number of research firms have weighed in on CINF. Zacks Investment Research upgraded Cincinnati Financial from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Wednesday, January 16th. BidaskClub upgraded Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 5th. Finally, Buckingham Research began coverage on Cincinnati Financial in a research note on Friday, December 14th. They issued a “neutral” rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $82.33.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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