Handelsbanken Fonder AB Sells 9,617 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Handelsbanken Fonder AB lowered its position in Cincinnati Financial Co. (NASDAQ:CINF) by 27.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,952 shares of the insurance provider’s stock after selling 9,617 shares during the quarter. Handelsbanken Fonder AB’s holdings in Cincinnati Financial were worth $2,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CINF. Los Angeles Capital Management LLC boosted its stake in Cincinnati Financial by 554.7% during the third quarter. Los Angeles Capital Management LLC now owns 1,109,299 shares of the insurance provider’s stock worth $113,470,000 after buying an additional 939,861 shares in the last quarter. AQR Capital Management LLC increased its stake in Cincinnati Financial by 1,870.3% in the third quarter. AQR Capital Management LLC now owns 274,030 shares of the insurance provider’s stock valued at $28,031,000 after acquiring an additional 260,122 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Cincinnati Financial in the fourth quarter worth about $21,036,000. London Co. of Virginia boosted its holdings in Cincinnati Financial by 7.8% during the third quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock valued at $283,658,000 after purchasing an additional 200,414 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Cincinnati Financial by 92.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 236,410 shares of the insurance provider’s stock valued at $24,182,000 after purchasing an additional 113,653 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Performance

CINF stock opened at $110.88 on Friday. The company has a 50 day moving average price of $117.71 and a 200 day moving average price of $109.08. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $17.37 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 2.42 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, April 25th. The insurance provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. Analysts forecast that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Analyst Upgrades and Downgrades

CINF has been the topic of several recent analyst reports. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Citigroup increased their target price on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Finally, Piper Sandler reissued a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Hold” and an average target price of $123.57.

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.