ING Groep NV Sells 810 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

ING Groep NV trimmed its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 10.3% in the 4th quarter, HoldingsChannel reports. The fund owned 7,065 shares of the insurance provider’s stock after selling 810 shares during the quarter. ING Groep NV’s holdings in Cincinnati Financial were worth $1,015,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CINF. Handelsbanken Fonder AB raised its holdings in Cincinnati Financial by 10.8% in the fourth quarter. Handelsbanken Fonder AB now owns 25,185 shares of the insurance provider’s stock worth $3,619,000 after purchasing an additional 2,463 shares in the last quarter. Ieq Capital LLC grew its position in shares of Cincinnati Financial by 45.8% in the 4th quarter. Ieq Capital LLC now owns 14,643 shares of the insurance provider’s stock worth $2,104,000 after buying an additional 4,603 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Cincinnati Financial by 18.3% during the 4th quarter. Global Retirement Partners LLC now owns 667 shares of the insurance provider’s stock worth $96,000 after acquiring an additional 103 shares in the last quarter. Convergence Investment Partners LLC purchased a new stake in Cincinnati Financial during the fourth quarter valued at approximately $210,000. Finally, Bank of Jackson Hole Trust acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $101,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CINF has been the topic of a number of recent analyst reports. 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 report on Wednesday, February 12th. 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 report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Insider Activity

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the acquisition, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.83% of the company’s stock.

Cincinnati Financial Price Performance

Shares of CINF opened at $135.14 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. The company’s fifty day moving average price is $140.12 and its 200-day moving average price is $140.91. Cincinnati Financial Co. has a 1-year low of $109.93 and a 1-year high of $161.74. The firm has a market capitalization of $21.12 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 8.30 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data 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 return on equity of 9.01% and a net margin of 20.22%. On average, equities research analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current 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 dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a yield of 2.58%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 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.