Johnson Investment Counsel Inc. Has $137.74 Million Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Johnson Investment Counsel Inc. lowered its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,331,328 shares of the insurance provider's stock after selling 21,871 shares during the period. Cincinnati Financial comprises 1.6% of Johnson Investment Counsel Inc.'s investment portfolio, making the stock its 8th biggest position. Johnson Investment Counsel Inc. owned approximately 0.85% of Cincinnati Financial worth $137,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in CINF. BNP Paribas Financial Markets lifted its position in shares of Cincinnati Financial by 76.3% during the 4th quarter. BNP Paribas Financial Markets now owns 119,754 shares of the insurance provider's stock worth $12,390,000 after purchasing an additional 51,830 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Cincinnati Financial by 61.5% during the 4th quarter. Teacher Retirement System of Texas now owns 160,543 shares of the insurance provider's stock worth $16,610,000 after acquiring an additional 61,136 shares in the last quarter. Versor Investments LP acquired a new position in shares of Cincinnati Financial during the 4th quarter worth about $900,000. Principal Securities Inc. purchased a new position in shares of Cincinnati Financial in the 4th quarter valued at about $55,000. Finally, US Asset Management LLC acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth about $381,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the company's stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average cost of $113.47 per share, for a total transaction of $113,470.00. Following the completion of the purchase, the director now owns 53,988 shares of the company's stock, valued at approximately $6,126,018.36. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 2.83% of the stock is owned by corporate insiders.

Cincinnati Financial Price Performance

NASDAQ CINF traded up $0.56 during trading hours on Friday, reaching $118.87. The company's stock had a trading volume of 331,292 shares, compared to its average volume of 780,293. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.26 and a current ratio of 0.26. The company's 50-day moving average is $118.57 and its two-hundred day moving average is $110.23. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. The stock has a market cap of $18.61 billion, a PE ratio of 7.91, a PEG ratio of 2.54 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.03. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The firm had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. Cincinnati Financial's quarterly revenue was up 31.0% on a year-over-year basis. Analysts forecast that Cincinnati Financial Co. will post 6.37 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.24 dividend on an annualized basis and a yield of 2.73%. Cincinnati Financial's dividend payout ratio (DPR) is currently 21.56%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CINF. BMO Capital Markets raised Cincinnati Financial from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $125.00 to $135.00 in a report on Monday, March 25th. Piper Sandler restated a "neutral" rating and set a $116.00 price target on shares of Cincinnati Financial in a research note on Monday, April 1st. Citigroup boosted their price objective on Cincinnati Financial from $120.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, April 16th. TheStreet upgraded shares of Cincinnati Financial from a "c+" rating to a "b" rating in a research report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an "outperform" rating in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cincinnati Financial has a consensus rating of "Hold" and an average target price of $124.50.

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.