Horizon Advisory Services Inc. Purchases New Position in Cincinnati Financial Co. (NASDAQ:CINF)

Horizon Advisory Services Inc. acquired a new position in Cincinnati Financial Co. (NASDAQ:CINF) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,167 shares of the insurance provider’s stock, valued at approximately $311,000. Cincinnati Financial accounts for about 0.2% of Horizon Advisory Services Inc.’s holdings, making the stock its 27th biggest position.

Several other institutional investors have also added to or reduced their stakes in CINF. Charles Schwab Investment Management Inc. lifted its stake in Cincinnati Financial by 26.7% in 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 purchasing an additional 1,218,919 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Cincinnati Financial by 583.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock worth $52,531,000 after purchasing an additional 329,435 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Cincinnati Financial by 49.5% in the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after purchasing an additional 147,542 shares during the last quarter. SG Americas Securities LLC lifted its stake in Cincinnati Financial by 3,381.8% in the fourth quarter. SG Americas Securities LLC now owns 140,768 shares of the insurance provider’s stock worth $20,228,000 after purchasing an additional 136,725 shares during the last quarter. Finally, Cibc World Market Inc. lifted its stake in Cincinnati Financial by 1,711.7% in the fourth quarter. Cibc World Market Inc. now owns 103,505 shares of the insurance provider’s stock worth $14,874,000 after purchasing an additional 97,792 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Roth Mkm raised their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $137.13 on Tuesday. The firm has a market cap of $21.44 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 8.30 and a beta of 0.71. The firm’s 50 day simple moving average is $139.81 and its 200-day simple moving average is $140.98. Cincinnati Financial Co. has a one year low of $109.93 and a one year high of $161.74. 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 earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, topping 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%. As a group, equities analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.54%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 23.97%.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost 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 $8,566,855. This represents a 1.87 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

Cincinnati Financial Company 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.