Avanza Fonder AB Purchases New Position in Cincinnati Financial Co. (NASDAQ:CINF)

Avanza Fonder AB acquired a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,513 shares of the insurance provider’s stock, valued at approximately $1,942,000.

A number of other institutional investors also recently modified their holdings of CINF. Brown Brothers Harriman & Co. lifted its holdings in shares of Cincinnati Financial by 2.1% in the third quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider’s stock valued at $460,000 after purchasing an additional 68 shares in the last quarter. Wealth Dimensions Group Ltd. grew its holdings in shares of Cincinnati Financial by 0.9% during the third quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock worth $1,098,000 after buying an additional 75 shares in the last quarter. Park Avenue Securities LLC raised its position in Cincinnati Financial by 0.4% in the 4th quarter. Park Avenue Securities LLC now owns 17,473 shares of the insurance provider’s stock valued at $2,511,000 after buying an additional 78 shares during the last quarter. UMB Bank n.a. boosted its position in Cincinnati Financial by 7.4% during the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock worth $155,000 after acquiring an additional 79 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Cincinnati Financial by 1.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Down 1.6 %

Cincinnati Financial stock opened at $140.66 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50-day simple moving average of $148.67 and a 200 day simple moving average of $138.29. The stock has a market capitalization of $21.99 billion, a P/E ratio of 7.23, a PEG ratio of 2.25 and a beta of 0.71. Cincinnati Financial Co. has a 52 week low of $104.78 and a 52 week high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The firm’s revenue was up 21.5% compared to the same quarter last year. Analysts expect that Cincinnati Financial Co. will post 6.3 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th were paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Thursday, December 19th. Cincinnati Financial’s dividend payout ratio is presently 16.65%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America increased their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Piper Sandler upped their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.33.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the transaction, the director now owns 54,500 shares in the company, valued at $8,566,855. The trade was a 1.87 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.83% of the stock is currently owned by insiders.

Cincinnati Financial 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.