Arbejdsmarkedets Tillaegspension Takes Position in Cincinnati Financial Corporation $CINF

Arbejdsmarkedets Tillaegspension purchased a new position in Cincinnati Financial Corporation (NASDAQ:CINF) during the first quarter, Holdings Channel.com reports. The firm purchased 160,085 shares of the insurance provider’s stock, valued at approximately $25,189,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Cincinnati Financial during the 4th quarter worth about $270,892,000. Arrowstreet Capital Limited Partnership increased its holdings in Cincinnati Financial by 193.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock worth $98,161,000 after buying an additional 396,086 shares during the last quarter. First Trust Advisors LP increased its holdings in Cincinnati Financial by 38.5% in the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock worth $215,562,000 after buying an additional 367,224 shares during the last quarter. Raymond James Financial Inc. raised its position in Cincinnati Financial by 48.6% during the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after acquiring an additional 262,715 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $32,692,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $179.28 on Monday. The firm has a 50 day moving average of $170.27 and a 200-day moving average of $165.53. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $27.73 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 3.85 and a beta of 0.54. Cincinnati Financial Corporation has a 1 year low of $143.87 and a 1 year high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.7 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.50%.

Wall Street Analyst Weigh In

Several analysts have commented on CINF shares. Bank of America decreased their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Roth Capital upped their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Finally, Piper Sandler boosted their price target on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

About Cincinnati Financial

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.