Avanza Fonder AB Purchases New Position in Cincinnati Financial Co. (NASDAQ:CINF)

Avanza Fonder AB acquired a new stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,513 shares of the insurance provider's stock, valued at approximately $1,942,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CINF. Charles Schwab Investment Management Inc. lifted its position in Cincinnati Financial by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider's stock valued at $787,076,000 after acquiring an additional 1,218,919 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Cincinnati Financial by 583.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider's stock valued at $52,531,000 after acquiring an additional 329,435 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider's stock valued at $115,758,000 after buying an additional 277,550 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider's stock valued at $159,360,000 after buying an additional 187,934 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider's stock valued at $60,619,000 after buying an additional 147,542 shares during the period. 65.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CINF shares. Bank of America increased their price target on Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Piper Sandler increased their price target on Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Cincinnati Financial currently has an average rating of "Moderate Buy" and an average target price of $143.33.

Cincinnati Financial Stock Performance

Cincinnati Financial stock traded down $2.25 during trading on Friday, reaching $140.66. The company had a trading volume of 607,823 shares, compared to its average volume of 582,083. Cincinnati Financial Co. has a 52 week low of $104.78 and a 52 week high of $161.74. The firm's 50-day simple moving average is $148.67 and its 200 day simple moving average is $138.44. The firm has a market capitalization of $21.99 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its 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). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business posted $1.66 earnings per share. Cincinnati Financial's revenue for the quarter was up 21.5% compared to the same quarter last year. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.3 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th were paid a $0.81 dividend. The ex-dividend date was Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.30%. Cincinnati Financial's payout ratio is presently 16.65%.

Insiders Place Their Bets

In other news, Director Dirk J. Debbink acquired 1,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the transaction, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is currently owned by company insiders.

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.