Andra AP fonden Invests $1.95 Million in Cincinnati Financial Corporation $CINF

Andra AP fonden purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,300 shares of the insurance provider’s stock, valued at approximately $1,945,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Cincinnati Financial during the second quarter worth approximately $235,714,000. Vanguard Group Inc. boosted its stake in Cincinnati Financial by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock valued at $2,914,738,000 after purchasing an additional 317,033 shares during the period. Raymond James Financial Inc. grew its holdings in Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after buying an additional 262,715 shares in the last quarter. Amundi increased its position in Cincinnati Financial by 113.6% during the 2nd quarter. Amundi now owns 454,996 shares of the insurance provider’s stock worth $66,479,000 after buying an additional 242,020 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after acquiring an additional 173,343 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Stock Down 0.7%

Shares of NASDAQ CINF opened at $163.98 on Monday. The company has a market cap of $25.52 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 3.65 and a beta of 0.63. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $174.27. The stock has a 50-day moving average price of $163.29 and a two-hundred day moving average price of $160.47.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the company posted $3.14 EPS. As a group, analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently declared 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 represents a $3.76 annualized dividend and a dividend yield of 2.3%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 22.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Piper Sandler increased their target price on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Wall Street Zen downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial 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.