Tredje AP fonden Purchases 3,542 Shares of Cincinnati Financial Corporation $CINF

Tredje AP fonden lifted its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 27.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,268 shares of the insurance provider’s stock after buying an additional 3,542 shares during the period. Tredje AP fonden’s holdings in Cincinnati Financial were worth $2,572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cibc World Market Inc. bought a new position in shares of Cincinnati Financial during the 3rd quarter worth approximately $2,511,000. Strs Ohio boosted its holdings in shares of Cincinnati Financial by 322.9% in the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after buying an additional 71,378 shares during the last quarter. AE Wealth Management LLC increased its holdings in Cincinnati Financial by 1,102.8% during the third quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock worth $8,063,000 after buying an additional 46,757 shares during the last quarter. Western Wealth Management LLC acquired a new position in shares of Cincinnati Financial during the 3rd quarter worth about $1,622,000. Finally, Narwhal Capital Management increased its position in Cincinnati Financial by 62.4% during the third quarter. Narwhal Capital Management now owns 44,966 shares of the insurance provider’s stock worth $7,109,000 after buying an additional 17,276 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of CINF opened at $163.00 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $163.69 and its two-hundred day simple moving average is $160.02. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $174.27. The stock has a market capitalization of $25.43 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 3.63 and a beta of 0.66.

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

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, March 24th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio is presently 22.94%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CINF. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Piper Sandler upped their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Roth Mkm restated a “buy” rating and issued a $175.00 target price on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus price target 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.