Cincinnati Financial Co. (NASDAQ:CINF) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 191,149 shares of the insurance provider’s stock after buying an additional 5,097 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Cincinnati Financial worth $26,019,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Cincinnati Financial by 26.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after buying an additional 1,218,919 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in Cincinnati Financial by 1.1% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock valued at $178,845,000 after purchasing an additional 16,451 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after purchasing an additional 187,934 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in shares of Cincinnati Financial by 10.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after acquiring an additional 107,081 shares during the period. Finally, AQR Capital Management LLC boosted its position in Cincinnati Financial by 39.4% during the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after purchasing an additional 277,550 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Up 1.7 %

Shares of CINF opened at $145.27 on Wednesday. Cincinnati Financial Co. has a 1-year low of $101.41 and a 1-year high of $161.74. The business’s 50-day moving average price is $148.51 and its 200 day moving average price is $134.88. The stock has a market capitalization of $22.71 billion, a P/E ratio of 7.47, a P/E/G ratio of 2.89 and a beta of 0.69. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business posted $1.66 earnings per share. Cincinnati Financial’s revenue was up 21.5% on a year-over-year basis. Analysts expect that Cincinnati Financial Co. will post 6.31 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.23%. Cincinnati Financial’s payout ratio is 16.65%.

Analysts Set New Price Targets

CINF has been the topic of a number of recent research reports. Piper Sandler upped their target price on 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 target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Bank of America increased their price target on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.33.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, December 3rd. The shares were bought at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the purchase, the director now owns 54,500 shares in the company, valued at $8,566,855. This trade represents 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. 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.