Avanza Fonder AB Grows Stock Holdings in Cincinnati Financial Corporation $CINF

Avanza Fonder AB boosted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,447 shares of the insurance provider’s stock after purchasing an additional 3,904 shares during the period. Avanza Fonder AB’s holdings in Cincinnati Financial were worth $2,196,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CINF. LRI Investments LLC bought a new position in shares of Cincinnati Financial during the 3rd quarter valued at $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Cincinnati Financial during the 3rd quarter valued at about $30,000. Quent Capital LLC purchased a new stake in shares of Cincinnati Financial during the 3rd quarter valued at about $34,000. Field & Main Bank purchased a new stake in shares of Cincinnati Financial during the 3rd quarter valued at about $47,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Cincinnati Financial in the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, March 10th. Finally, Piper Sandler boosted their price target on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Cincinnati Financial has a consensus rating of “Buy” and a consensus price target of $174.33.

Cincinnati Financial Stock Down 1.2%

CINF opened at $158.27 on Wednesday. The stock has a market cap of $24.64 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 3.57 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s fifty day moving average is $163.23 and its 200 day moving average is $161.72. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27.

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

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio is currently 22.94%.

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.