abrdn plc Trims Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

abrdn plc decreased its position in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,399 shares of the insurance provider's stock after selling 12,909 shares during the period. abrdn plc's holdings in Cincinnati Financial were worth $7,937,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Boston Trust Walden Corp increased its position in Cincinnati Financial by 2.3% during the fourth quarter. Boston Trust Walden Corp now owns 795,780 shares of the insurance provider's stock worth $114,354,000 after buying an additional 18,192 shares during the period. HFG Advisors Inc. acquired a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $318,000. Round Rock Advisors LLC acquired a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $201,000. Greenleaf Trust increased its holdings in shares of Cincinnati Financial by 5.8% in the fourth quarter. Greenleaf Trust now owns 2,054 shares of the insurance provider's stock valued at $295,000 after purchasing an additional 112 shares during the period. Finally, Golden State Equity Partners increased its holdings in shares of Cincinnati Financial by 7.4% in the fourth quarter. Golden State Equity Partners now owns 3,602 shares of the insurance provider's stock valued at $518,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock traded down $5.76 during trading on Wednesday, reaching $133.67. The company's stock had a trading volume of 940,804 shares, compared to its average volume of 739,704. 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 Co. has a 12-month low of $107.75 and a 12-month high of $161.74. The company has a market capitalization of $20.90 billion, a P/E ratio of 6.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The business has a 50 day moving average price of $142.92 and a 200-day moving average price of $140.47.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted 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 return on equity of 8.25% and a net margin of 25.26%. As a group, sell-side analysts anticipate that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Cincinnati Financial Increases Dividend

The company also recently announced 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. This represents a $3.48 dividend on an annualized basis and a yield of 2.60%. This is an increase from Cincinnati Financial's previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial's payout ratio is presently 16.65%.

Analysts Set New Price Targets

CINF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Roth Mkm lifted their price target on Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Piper Sandler lifted their price target on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $146.67.

Insiders Place Their Bets

In other news, Director Dirk J. Debbink bought 1,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is owned by company insiders.

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.