Empirical Financial Services LLC d.b.a. Empirical Wealth Management Decreases Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 13.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,510 shares of the insurance provider’s stock after selling 237 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cincinnati Financial were worth $217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cincinnati Financial by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after purchasing an additional 1,218,919 shares during the last quarter. Boston Trust Walden Corp lifted its stake in Cincinnati Financial by 2.6% in the third quarter. Boston Trust Walden Corp now owns 777,588 shares of the insurance provider’s stock valued at $105,845,000 after buying an additional 19,793 shares during the last quarter. Barclays PLC boosted its holdings in shares of Cincinnati Financial by 13.1% in the third quarter. Barclays PLC now owns 534,361 shares of the insurance provider’s stock valued at $72,736,000 after acquiring an additional 61,801 shares during the period. JPMorgan Chase & Co. grew its position in shares of Cincinnati Financial by 49.5% during the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock worth $60,619,000 after acquiring an additional 147,542 shares during the last quarter. Finally, Vest Financial LLC increased its holdings in shares of Cincinnati Financial by 10.4% in the 3rd quarter. Vest Financial LLC now owns 418,066 shares of the insurance provider’s stock valued at $56,907,000 after acquiring an additional 39,349 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CINF shares. Bank of America increased their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Piper Sandler raised their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” 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. Based on data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $139.04 on Friday. Cincinnati Financial Co. has a 52 week low of $104.78 and a 52 week high of $161.74. The company has a 50-day moving average price of $146.71 and a 200 day moving average price of $139.44. The company has a market cap of $21.73 billion, a P/E ratio of 7.14, a PEG ratio of 2.42 and a beta of 0.71. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th were issued a $0.81 dividend. The ex-dividend date was Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.33%. Cincinnati Financial’s dividend payout ratio is currently 16.65%.

Insider Activity at Cincinnati Financial

In related 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 transaction, the director now owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.83% of the company’s stock.

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.