Avanza Fonder AB Takes $1.94 Million Position in Cincinnati Financial Co. (NASDAQ:CINF)

Avanza Fonder AB purchased a new position in Cincinnati Financial Co. (NASDAQ:CINF) during the fourth quarter, Holdings Channel reports. The firm purchased 13,513 shares of the insurance provider’s stock, valued at approximately $1,942,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC bought a new position in Cincinnati Financial in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new position in Cincinnati Financial in the third quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new stake in Cincinnati Financial during the third quarter worth $28,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Cincinnati Financial in the 3rd quarter valued at $29,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Cincinnati Financial by 49.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Buying and Selling

In other news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average price of $157.19 per share, with a total value of $157,190.00. Following the completion of the purchase, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.83% of the stock is owned by insiders.

Cincinnati Financial Stock Down 1.6 %

NASDAQ:CINF opened at $140.66 on Friday. Cincinnati Financial Co. has a one year low of $104.78 and a one year high of $161.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $21.99 billion, a PE ratio of 7.23, a P/E/G ratio of 2.25 and a beta of 0.71. The firm’s 50 day simple moving average is $148.67 and its 200 day simple moving average is $138.29.

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

Cincinnati Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CINF shares. 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 research note on Tuesday, October 29th. Bank of America lifted their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Piper Sandler increased their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.33.

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.