Tredje AP fonden Decreases Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Tredje AP fonden reduced its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,449 shares of the insurance provider’s stock after selling 385 shares during the quarter. Tredje AP fonden’s holdings in Cincinnati Financial were worth $2,887,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Cincinnati Financial during the 4th quarter worth $179,305,000. Dimensional Fund Advisors LP raised its position in Cincinnati Financial by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after acquiring an additional 187,934 shares during the period. Balyasny Asset Management L.P. boosted its stake in Cincinnati Financial by 36.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 679,861 shares of the insurance provider’s stock valued at $70,338,000 after acquiring an additional 180,355 shares during the last quarter. Natixis bought a new position in shares of Cincinnati Financial during the 1st quarter valued at approximately $22,053,000. Finally, Bank of Nova Scotia increased its stake in shares of Cincinnati Financial by 375.8% during the 4th quarter. Bank of Nova Scotia now owns 164,455 shares of the insurance provider’s stock worth $17,014,000 after purchasing an additional 129,889 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

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

Cincinnati Financial Stock Down 0.4 %

CINF stock opened at $135.77 on Friday. The stock has a 50-day simple moving average of $130.41 and a two-hundred day simple moving average of $122.04. Cincinnati Financial Co. has a twelve month low of $96.86 and a twelve month high of $139.34. The firm has a market capitalization of $21.26 billion, a PE ratio of 9.03, a PEG ratio of 2.60 and a beta of 0.66. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07.

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

Cincinnati Financial Dividend Announcement

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

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.