Principal Financial Group Inc. Sells 6,212 Shares of Cincinnati Financial Corporation $CINF

Principal Financial Group Inc. lessened its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.4% in the third quarter, Holdings Channel reports. The institutional investor owned 176,639 shares of the insurance provider’s stock after selling 6,212 shares during the period. Principal Financial Group Inc.’s holdings in Cincinnati Financial were worth $27,927,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Mutual Advisors LLC increased its position in Cincinnati Financial by 4.0% in the 3rd quarter. Mutual Advisors LLC now owns 3,553 shares of the insurance provider’s stock valued at $553,000 after acquiring an additional 137 shares during the period. National Pension Service increased its holdings in Cincinnati Financial by 2.3% in the third quarter. National Pension Service now owns 241,389 shares of the insurance provider’s stock valued at $38,164,000 after purchasing an additional 5,350 shares during the period. AlphaQuest LLC raised its position in Cincinnati Financial by 8,796.1% during the 3rd quarter. AlphaQuest LLC now owns 20,283 shares of the insurance provider’s stock worth $3,207,000 after purchasing an additional 20,055 shares during the last quarter. Arizona State Retirement System raised its position in Cincinnati Financial by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 46,268 shares of the insurance provider’s stock worth $7,315,000 after purchasing an additional 525 shares during the last quarter. Finally, Impact Partnership Wealth LLC lifted its holdings in Cincinnati Financial by 30.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 5,033 shares of the insurance provider’s stock worth $796,000 after buying an additional 1,184 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $172.65 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $174.27. The company has a fifty day moving average of $163.57 and a 200-day moving average of $158.92. The firm has a market capitalization of $26.94 billion, a P/E ratio of 12.85, a P/E/G ratio of 3.89 and a beta of 0.66.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be issued a dividend of $0.94 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 25.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CINF shares. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Weiss Ratings restated a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Roth Mkm reiterated a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Finally, Piper Sandler lifted their target price on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.