Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Position in Cincinnati Financial Corporation $CINF

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 35,686 shares of the insurance provider’s stock after purchasing an additional 1,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cincinnati Financial were worth $5,314,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CINF. GQG Partners LLC purchased a new stake in Cincinnati Financial in the 1st quarter worth $270,005,000. Raymond James Financial Inc. increased its stake in Cincinnati Financial by 558.8% in the 1st quarter. Raymond James Financial Inc. now owns 540,950 shares of the insurance provider’s stock worth $79,909,000 after buying an additional 458,841 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cincinnati Financial by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider’s stock worth $940,130,000 after buying an additional 358,018 shares in the last quarter. Nuveen LLC purchased a new stake in Cincinnati Financial in the 1st quarter worth $47,070,000. Finally, Woodline Partners LP grew its position in shares of Cincinnati Financial by 3,392.1% during the first quarter. Woodline Partners LP now owns 327,800 shares of the insurance provider’s stock valued at $48,423,000 after purchasing an additional 318,413 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Up 1.7%

Shares of NASDAQ:CINF opened at $154.36 on Friday. The company has a current ratio of 0.30, 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 $166.90. The company has a 50-day moving average price of $156.05 and a 200 day moving average price of $149.77. The company has a market cap of $24.08 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 4.27 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the firm earned $1.42 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were issued a $0.87 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 25.89%.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was purchased at an average price of $153.98 per share, with a total value of $153,980.00. Following the acquisition, the director owned 58,482 shares in the company, valued at approximately $9,005,058.36. The trade was a 1.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CINF. Roth Capital restated a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $167.67.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.