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

Tredje AP fonden raised its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 27.8% in the third quarter, Holdings Channel.com reports. The firm 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.

A number of other hedge funds have also recently bought and sold shares of the company. Raiffeisen Bank International AG purchased a new position in Cincinnati Financial during the third quarter worth about $840,000. NewEdge Wealth LLC raised its stake in shares of Cincinnati Financial by 0.5% during the 3rd quarter. NewEdge Wealth LLC now owns 15,339 shares of the insurance provider’s stock worth $2,455,000 after purchasing an additional 75 shares during the period. Redmont Wealth Advisors LLC purchased a new position in shares of Cincinnati Financial in the 3rd quarter worth about $30,000. Syon Capital LLC boosted its holdings in shares of Cincinnati Financial by 39.4% in the 3rd quarter. Syon Capital LLC now owns 2,801 shares of the insurance provider’s stock worth $443,000 after buying an additional 791 shares during the last quarter. Finally, NEOS Investment Management LLC grew its position in shares of Cincinnati Financial by 49.9% during the 3rd quarter. NEOS Investment Management LLC now owns 13,668 shares of the insurance provider’s stock valued at $2,161,000 after acquiring an additional 4,551 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen lowered 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 objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Roth Mkm reissued a “buy” rating and issued a $175.00 target price on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.33.

Cincinnati Financial Trading Up 0.4%

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

Cincinnati Financial (NASDAQ:CINF) last released 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. 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 during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the business posted $3.14 EPS. The business’s revenue was up 21.8% on a year-over-year basis. On average, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. Cincinnati Financial’s 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.