Hennion & Walsh Asset Management Inc. Grows Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Hennion & Walsh Asset Management Inc. increased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 25.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,413 shares of the insurance provider’s stock after buying an additional 2,548 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Cincinnati Financial were worth $1,784,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Cincinnati Financial in the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new position in Cincinnati Financial in the third quarter worth about $28,000. Catalyst Capital Advisors LLC bought a new stake in Cincinnati Financial in the third quarter valued at about $27,000. Future Financial Wealth Managment LLC acquired a new stake in Cincinnati Financial during the third quarter valued at approximately $29,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Down 1.6 %

CINF stock opened at $140.66 on Friday. The stock has a market cap of $21.99 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71. The firm’s 50-day simple moving average is $148.67 and its 200 day simple moving average is $138.15. Cincinnati Financial Co. has a fifty-two week low of $104.78 and a fifty-two week high of $161.74. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the firm posted $1.66 EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, sell-side analysts predict that Cincinnati Financial Co. will post 6.3 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.30%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CINF. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler increased their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Bank of America lifted their price target on shares of 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 assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Insider Transactions at Cincinnati Financial

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

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.