Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 29,050 Shares of Cincinnati Financial Corporation $CINF

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 91.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,818 shares of the insurance provider’s stock after purchasing an additional 29,050 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cincinnati Financial were worth $9,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC purchased a new position in Cincinnati Financial in the 1st quarter worth about $239,000. Strs Ohio boosted its position in Cincinnati Financial by 6.4% in the 1st quarter. Strs Ohio now owns 140,384 shares of the insurance provider’s stock valued at $22,089,000 after buying an additional 8,494 shares during the period. Root Financial Partners LLC boosted its position in Cincinnati Financial by 19.5% in the 1st quarter. Root Financial Partners LLC now owns 814 shares of the insurance provider’s stock valued at $128,000 after buying an additional 133 shares during the period. Essex Financial Services Inc. grew its stake in Cincinnati Financial by 6.3% in the 1st quarter. Essex Financial Services Inc. now owns 2,433 shares of the insurance provider’s stock worth $383,000 after acquiring an additional 145 shares in the last quarter. Finally, Secured Retirement Advisors LLC bought a new position in Cincinnati Financial in the 1st quarter worth about $256,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $192.03 on Friday. Cincinnati Financial Corporation has a one year low of $143.87 and a one year high of $192.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $29.71 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 4.15 and a beta of 0.54. The company’s 50-day simple moving average is $168.51 and its two-hundred day simple moving average is $164.98.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that Cincinnati Financial Corporation will post 8.66 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. Cincinnati Financial’s payout ratio is 21.50%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Piper Sandler increased their price objective on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, June 26th. Roth Mkm raised their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Bank of America lowered their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Cincinnati Financial has a consensus rating of “Buy” and a consensus target price of $183.25.

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.