Nykredit A S Makes New Investment in Cincinnati Financial Corporation $CINF

Nykredit A S purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 43,986 shares of the insurance provider’s stock, valued at approximately $8,144,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CINF. State Street Corp grew its stake in Cincinnati Financial by 0.3% in the third quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock valued at $1,357,825,000 after acquiring an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Cincinnati Financial by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock worth $1,083,151,000 after purchasing an additional 97,761 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cincinnati Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after purchasing an additional 25,888 shares in the last quarter. First Trust Advisors LP grew its position in shares of Cincinnati Financial by 59.4% in the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after purchasing an additional 784,584 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Cincinnati Financial by 4.2% in the 2nd quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock valued at $299,553,000 after purchasing an additional 80,487 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, August 25th. The stock was bought at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the purchase, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 2.94% of the stock is currently owned by corporate insiders.

Cincinnati Financial Price Performance

Shares of CINF opened at $171.10 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81. The stock has a market capitalization of $26.26 billion, a P/E ratio of 8.07, a P/E/G ratio of 3.58 and a beta of 0.53. The company has a 50 day moving average of $177.48 and a 200-day moving average of $168.92.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the firm earned $1.97 EPS. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.2%. Cincinnati Financial’s payout ratio is 17.74%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Roth Capital boosted their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday, August 21st. Finally, Keefe, Bruyette & Woods dropped their price target on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.40.

About Cincinnati Financial

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.