Cincinnati Financial Corporation $CINF Position Lessened by Forsta AP Fonden

Forsta AP Fonden lowered its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 32.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,600 shares of the insurance provider’s stock after selling 14,100 shares during the quarter. Forsta AP Fonden’s holdings in Cincinnati Financial were worth $4,408,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Quintet Private Bank Europe S.A. bought a new stake in Cincinnati Financial in the second quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Cincinnati Financial in the 1st quarter worth about $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in Cincinnati Financial in the 1st quarter valued at about $32,000. AlphaQuest LLC lifted its position in 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 last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in Cincinnati Financial by 51.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 282 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 96 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were purchased at an average price of $153.98 per share, with a total value of $153,980.00. Following the purchase, the director owned 58,482 shares of the company’s stock, valued at $9,005,058.36. This trade represents a 1.74% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 2.83% of the stock is owned by company insiders.

Analyst Ratings Changes

CINF has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $177.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a report on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $171.67.

Cincinnati Financial Price Performance

NASDAQ:CINF opened at $163.90 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $157.82 and its 200 day moving average price is $151.98. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $168.20. The firm has a market cap of $25.57 billion, a P/E ratio of 12.19, a PEG ratio of 4.27 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $1.42 earnings per share. As a group, sell-side analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, September 22nd. Cincinnati Financial’s dividend payout ratio is currently 25.89%.

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.