5 Dividend Kings to Buy for 2022

3. Cincinnati Financial Corporation (NASDAQ:CINF)

Dividend Yield as of January 19: 2.16%

Number of Hedge Fund Holders: 20

Number of Years of Dividend Increases: 61

Cincinnati Financial Corporation (NASDAQ:CINF) was founded in 1950, and is headquartered in Cincinnati, Ohio. The company offers property and casualty insurance and is one of the leading American insurers. As of January 19, Cincinnati Financial Corporation (NASDAQ:CINF) provides a dividend yield of 2.16%, with a rich history of increasing dividend payments. 

On November 19, Cincinnati Financial Corporation (NASDAQ:CINF) declared a $0.63 per share quarterly dividend, in line with previous. The dividend was paid on January 14, to shareholders of record on December 16. The company distributes 43.51% of its net income to shareholders. 

RBC Capital analyst Mark Dwelle on December 9 downgraded Cincinnati Financial Corporation (NASDAQ:CINF) to Sector Perform from Outperform with a price target of $130, down from $135. Although Cincinnati Financial Corporation (NASDAQ:CINF) continues to benefit from a favorable rate environment and strong exposure unit growth, the recent years have also seen an increase in exposure to catastrophe risk as well as industry-wide pressures on loss trends. Cincinnati Financial Corporation (NASDAQ:CINF)’s “excellent reserving” and reliable dividend growth are now captured in the current multiple.

In the third quarter of 2021, 20 hedge funds in the database of 867 elite funds maintained by Insider Monkey were bullish on Cincinnati Financial Corporation (NASDAQ:CINF), with stakes amounting to approximately $662 million. Select Equity Group is the leading stakeholder of the company, with 4.79 million shares worth $547.5 million.