Andra AP fonden Makes New Investment in Cincinnati Financial Corporation $CINF

Andra AP fonden bought a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,300 shares of the insurance provider’s stock, valued at approximately $1,945,000.

A number of other institutional investors and hedge funds have also modified their holdings of CINF. LRI Investments LLC bought a new position in Cincinnati Financial in the third quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Cincinnati Financial during the 3rd quarter valued at $30,000. AlphaQuest LLC lifted its stake in shares of Cincinnati Financial by 714.3% in the 2nd quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 200 shares during the period. Quent Capital LLC acquired a new position in shares of Cincinnati Financial during the 3rd quarter worth about $34,000. Finally, Field & Main Bank bought a new stake in Cincinnati Financial in the third quarter valued at approximately $47,000. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Trading Down 0.7%

Shares of Cincinnati Financial stock opened at $163.98 on Monday. The stock has a market cap of $25.52 billion, a P/E ratio of 10.81, a P/E/G ratio of 3.65 and a beta of 0.63. The company has a quick ratio of 0.29, a current 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 business’s 50 day moving average is $163.29 and its 200-day moving average is $160.47.

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

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be given a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. Cincinnati Financial’s payout ratio is 22.94%.

Analysts Set New Price Targets

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