Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Forsta AP Fonden

Forsta AP Fonden decreased its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,600 shares of the insurance provider’s stock after selling 900 shares during the period. Forsta AP Fonden’s holdings in Cincinnati Financial were worth $4,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Qsemble Capital Management LP acquired a new stake in shares of Cincinnati Financial in the second quarter valued at about $473,000. American Century Companies Inc. lifted its stake in shares of Cincinnati Financial by 3.2% in the second quarter. American Century Companies Inc. now owns 48,523 shares of the insurance provider’s stock valued at $5,731,000 after purchasing an additional 1,485 shares during the period. Bahl & Gaynor Inc. lifted its stake in shares of Cincinnati Financial by 10.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after purchasing an additional 107,081 shares during the period. Mitchell Sinkler & Starr PA raised its position in Cincinnati Financial by 4.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 15,293 shares of the insurance provider’s stock worth $1,909,000 after acquiring an additional 600 shares during the last quarter. Finally, AGF Management Ltd. acquired a new position in Cincinnati Financial during the second quarter worth about $2,957,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CINF shares. Bank of America cut their target price on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $126.00 to $135.00 in a research report on Friday, June 28th. Roth Mkm lifted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.57.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $135.82 on Friday. The firm has a 50 day simple moving average of $128.98 and a 200-day simple moving average of $121.47. 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 firm has a market cap of $21.22 billion, a PE ratio of 9.04, a P/E/G ratio of 2.60 and a beta of 0.66. Cincinnati Financial Co. has a 1-year low of $96.86 and a 1-year high of $139.34.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the business posted $1.21 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a $0.81 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.39%. Cincinnati Financial’s payout ratio is 21.56%.

About Cincinnati Financial

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.