Handelsbanken Fonder AB Has $3.87 Million Position in Cincinnati Financial Corporation $CINF

Handelsbanken Fonder AB raised its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,967 shares of the insurance provider's stock after buying an additional 1,649 shares during the quarter. Handelsbanken Fonder AB's holdings in Cincinnati Financial were worth $3,867,000 as of its most recent SEC filing.

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Other institutional investors have also made changes to their positions in the company. Quintet Private Bank Europe S.A. bought a new position in Cincinnati Financial during the second quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in Cincinnati Financial in the 1st quarter valued at $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in Cincinnati Financial in the first quarter valued at $32,000. AlphaQuest LLC raised its stake in Cincinnati Financial by 714.3% during the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider's stock worth $34,000 after acquiring an additional 200 shares in the last quarter. Finally, Carderock Capital Management Inc. bought a new position in shares of Cincinnati Financial during the second quarter valued at $45,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Up 0.4%

Shares of CINF opened at $166.71 on Tuesday. The business's fifty day moving average price is $158.90 and its two-hundred day moving average price is $152.99. The firm has a market capitalization of $26.01 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 4.27 and a beta of 0.69. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $168.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.30.

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Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.84. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $2.87 billion. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 earnings per share. On average, analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, December 22nd. Cincinnati Financial's dividend payout ratio (DPR) is 25.89%.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the company's stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average cost of $153.98 per share, with a total value of $153,980.00. Following the completion of the purchase, the director directly owned 58,482 shares in the company, valued at approximately $9,005,058.36. This represents a 1.74% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $177.00 to $180.00 and gave the stock an "outperform" rating in a report on Tuesday, November 4th. Finally, Roth Capital reissued a "buy" rating and issued a $175.00 target price on shares of Cincinnati Financial in a report on Tuesday, October 28th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $171.67.

Get Our Latest Stock Analysis on Cincinnati Financial

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.

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