Welch Group LLC Has $58.27 Million Position in Cincinnati Financial Co. (NASDAQ:CINF)

Welch Group LLC reduced its position in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,097 shares of the insurance provider's stock after selling 5,058 shares during the quarter. Cincinnati Financial makes up approximately 2.6% of Welch Group LLC's portfolio, making the stock its 12th biggest position. Welch Group LLC owned 0.26% of Cincinnati Financial worth $58,272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Cincinnati Financial during the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Cincinnati Financial in the third quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Cincinnati Financial during the 3rd quarter worth about $27,000. Future Financial Wealth Managment LLC acquired a new position in Cincinnati Financial during the third quarter worth approximately $29,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in 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 purchasing an additional 80 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Bank of America raised 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. Piper Sandler lifted their price target 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. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $143.33.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.83% of the company's stock.

Cincinnati Financial Stock Performance

NASDAQ:CINF traded down $0.95 during midday trading on Friday, reaching $136.96. 382,215 shares of the company traded hands, compared to its average volume of 688,885. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $21.41 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71. Cincinnati Financial Co. has a twelve month low of $105.75 and a twelve month high of $161.74. The company has a fifty day moving average price of $144.16 and a 200 day moving average price of $139.87.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, March 24th. This is an increase from Cincinnati Financial's previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a dividend yield of 2.54%. Cincinnati Financial's payout ratio is currently 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.