Nykredit A S Purchases Shares of 158,473 Cincinnati Financial Corporation $CINF

Nykredit A S purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 158,473 shares of the insurance provider’s stock, valued at approximately $29,340,000.

Other hedge funds also recently made changes to their positions in the company. Keating Financial Advisory Services Inc. bought a new position in shares of Cincinnati Financial during the second quarter valued at approximately $27,000. Covestor Ltd grew its holdings in Cincinnati Financial by 98.8% during the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 83 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of Cincinnati Financial during the 1st quarter valued at approximately $34,000. SHP Wealth Management purchased a new position in Cincinnati Financial during the fourth quarter valued at approximately $44,000. Finally, New Age Alpha Advisors LLC boosted its position in shares of Cincinnati Financial by 228.7% in the fourth quarter. New Age Alpha Advisors LLC now owns 332 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 231 shares during the period. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Down 0.5%

Cincinnati Financial stock opened at $169.00 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The business’s 50-day simple moving average is $174.37 and its two-hundred day simple moving average is $169.41. The company has a market cap of $25.94 billion, a PE ratio of 7.97, a PEG ratio of 3.55 and a beta of 0.53. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the firm earned $1.97 EPS. Equities analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio is presently 17.74%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CINF. Weiss Ratings raised Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, September 10th. Keefe, Bruyette & Woods decreased their price target on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research report on Wednesday, July 15th. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Roth Capital increased their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.40.

Insider Activity at Cincinnati Financial

In other news, Director Dirk Debbink acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average price of $171.64 per share, with a total value of $171,640.00. Following the purchase, the director directly owned 62,059 shares of the company’s stock, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.94% of the stock is owned by insiders.

Cincinnati Financial Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers’ compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.