Manning & Napier Advisors LLC Trims Position in Cincinnati Financial Co. (NASDAQ:CINF)

Manning & Napier Advisors LLC lowered its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,029 shares of the insurance provider's stock after selling 3,561 shares during the quarter. Manning & Napier Advisors LLC's holdings in Cincinnati Financial were worth $6,183,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Cincinnati Financial in the third quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in Cincinnati Financial during the third quarter valued at $28,000. Catalyst Capital Advisors LLC acquired a new stake in Cincinnati Financial in the 3rd quarter worth about $27,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Cincinnati Financial during the third quarter worth approximately $29,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Cincinnati Financial by 49.4% during the third 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 in the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Insider Activity

In other news, Director Dirk J. Debbink acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $157.19 per share, with a total value of $157,190.00. Following the purchase, the director now directly owns 54,500 shares of the company's stock, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.83% of the company's stock.

Cincinnati Financial Stock Performance

Cincinnati Financial stock traded up $1.33 during mid-day trading on Thursday, reaching $139.60. 176,043 shares of the company were exchanged, compared to its average volume of 608,629. Cincinnati Financial Co. has a twelve month low of $104.78 and a twelve month 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 0.31. The firm's 50-day simple moving average is $146.71 and its two-hundred day simple moving average is $139.44. The firm has a market cap of $21.82 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, December 19th were issued a dividend of $0.81 per share. The ex-dividend date was Thursday, December 19th. This represents a $3.24 annualized dividend and a yield of 2.32%. Cincinnati Financial's dividend payout ratio is currently 16.65%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CINF shares. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Piper Sandler lifted their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Finally, Bank of America increased their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $143.33.

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.