First Affirmative Financial Network Reduces Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

First Affirmative Financial Network cut its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 6.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,899 shares of the insurance provider’s stock after selling 190 shares during the period. First Affirmative Financial Network’s holdings in Cincinnati Financial were worth $417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sei Investments Co. raised its holdings in Cincinnati Financial by 4.9% in the second quarter. Sei Investments Co. now owns 39,907 shares of the insurance provider’s stock worth $4,713,000 after purchasing an additional 1,865 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cincinnati Financial by 1.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after acquiring an additional 80 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Cincinnati Financial during the 2nd quarter valued at about $4,384,000. Heritage Wealth Management Inc. bought a new stake in Cincinnati Financial during the second quarter worth about $3,795,000. Finally, Verity & Verity LLC grew its holdings in Cincinnati Financial by 4.9% in the second quarter. Verity & Verity LLC now owns 83,986 shares of the insurance provider’s stock worth $9,919,000 after purchasing an additional 3,911 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insiders Place Their Bets

In other news, Director Dirk J. Debbink acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought 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 of the company’s stock, valued at approximately $8,566,855. The trade was a 1.87 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.83% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America boosted 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. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler increased their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.33.

Cincinnati Financial Stock Performance

CINF stock opened at $138.27 on Thursday. 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. The stock’s 50 day simple moving average is $146.98 and its 200 day simple moving average is $139.45. Cincinnati Financial Co. has a 12-month low of $104.78 and a 12-month high of $161.74. 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 Dividend Announcement

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

Cincinnati Financial 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.