Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 29,050 Shares of Cincinnati Financial Corporation $CINF

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 91.4% in the first quarter, HoldingsChannel reports. The firm owned 60,818 shares of the insurance provider’s stock after buying an additional 29,050 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cincinnati Financial were worth $9,570,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CINF. Norges Bank purchased a new position in Cincinnati Financial in the fourth quarter valued at about $270,892,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cincinnati Financial by 193.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock valued at $98,161,000 after buying an additional 396,086 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Cincinnati Financial by 38.5% in the 4th quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock valued at $215,562,000 after buying an additional 367,224 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of 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 during the last quarter. Finally, Korea Investment CORP grew its position in shares of Cincinnati Financial by 210.0% in the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock worth $46,548,000 after buying an additional 199,437 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

CINF has been the subject of a number of analyst reports. Bank of America decreased their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Piper Sandler raised their price objective on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Roth Mkm boosted their target price on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $183.25.

Cincinnati Financial Price Performance

NASDAQ CINF opened at $192.03 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. The stock’s fifty day moving average price is $168.51 and its 200 day moving average price is $164.98. Cincinnati Financial Corporation has a 1 year low of $143.87 and a 1 year high of $192.09. The company has a market cap of $29.71 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 4.15 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business posted ($0.24) EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 8.66 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.

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.