Skandinaviska Enskilda Banken AB publ Has $11.98 Million Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Skandinaviska Enskilda Banken AB publ lifted its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 181.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,721 shares of the insurance provider's stock after purchasing an additional 54,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.05% of Cincinnati Financial worth $11,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Oak Thistle LLC lifted its position in shares of Cincinnati Financial by 177.8% in the fourth quarter. Oak Thistle LLC now owns 8,570 shares of the insurance provider's stock worth $1,232,000 after purchasing an additional 5,485 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Cincinnati Financial in the third quarter worth approximately $546,000. JPMorgan Chase & Co. lifted its position in shares of Cincinnati Financial by 49.5% in the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider's stock worth $60,619,000 after purchasing an additional 147,542 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Cincinnati Financial by 2.7% in the third quarter. Principal Financial Group Inc. now owns 191,149 shares of the insurance provider's stock worth $26,019,000 after purchasing an additional 5,097 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its position in shares of Cincinnati Financial by 11.5% in the fourth quarter. New York Life Investment Management LLC now owns 23,117 shares of the insurance provider's stock worth $3,322,000 after purchasing an additional 2,383 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

CINF has been the topic of several recent research reports. Roth Mkm raised their price objective on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $151.00.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF traded up $1.80 during trading on Wednesday, reaching $147.68. The stock had a trading volume of 754,079 shares, compared to its average volume of 601,088. Cincinnati Financial Co. has a 52 week low of $109.93 and a 52 week high of $161.75. The firm has a market capitalization of $23.12 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 8.30 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $139.55 and a two-hundred day simple moving average of $142.25.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. As a group, analysts anticipate that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be given a $0.87 dividend. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.36%. Cincinnati Financial's dividend payout ratio (DPR) is currently 23.97%.

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.