Skandinaviska Enskilda Banken AB publ Has $6.20 Million Position in Cincinnati Financial Corporation $CINF

Skandinaviska Enskilda Banken AB publ grew its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 17.1% in the third quarter, Holdings Channel.com reports. The firm owned 39,256 shares of the insurance provider’s stock after purchasing an additional 5,735 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cincinnati Financial were worth $6,203,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CINF. Norges Bank purchased a new position in Cincinnati Financial during the 2nd quarter valued at about $235,714,000. Vanguard Group Inc. increased its stake in Cincinnati Financial by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock valued at $2,914,738,000 after buying an additional 317,033 shares during the period. Raymond James Financial Inc. lifted its position in Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after buying an additional 262,715 shares in the last quarter. Amundi lifted its position in Cincinnati Financial by 113.6% in the 2nd quarter. Amundi now owns 454,996 shares of the insurance provider’s stock worth $66,479,000 after buying an additional 242,020 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after buying an additional 173,343 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

CINF has been the subject of several recent research reports. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Roth Mkm reissued a “buy” rating and issued a $175.00 price target on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods raised their price objective 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. Piper Sandler boosted their target price 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. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.33.

Cincinnati Financial Trading Down 0.5%

Cincinnati Financial stock opened at $162.40 on Friday. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $174.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a market capitalization of $25.34 billion, a PE ratio of 10.71, a PEG ratio of 3.64 and a beta of 0.66. The business’s 50-day simple moving average is $163.75 and its 200-day simple moving average is $159.86.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS 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 company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the business posted $3.14 EPS. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities research analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The company 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 dividend of $0.94 per share. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio is presently 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.