Handelsbanken Fonder AB Buys 2,463 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Handelsbanken Fonder AB grew its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,185 shares of the insurance provider’s stock after buying an additional 2,463 shares during the quarter. Handelsbanken Fonder AB’s holdings in Cincinnati Financial were worth $3,619,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Raymond James & Associates increased its position in shares of Cincinnati Financial by 20.0% during the 3rd quarter. Raymond James & Associates now owns 61,228 shares of the insurance provider’s stock worth $8,334,000 after purchasing an additional 10,208 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Cincinnati Financial by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,726 shares of the insurance provider’s stock valued at $371,000 after purchasing an additional 102 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Cincinnati Financial by 39.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 9,865 shares of the insurance provider’s stock worth $1,343,000 after acquiring an additional 2,785 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Cincinnati Financial by 1.1% during the 3rd quarter. IFM Investors Pty Ltd now owns 31,832 shares of the insurance provider’s stock worth $4,333,000 after acquiring an additional 360 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Cincinnati Financial by 10.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock worth $15,923,000 after acquiring an additional 11,282 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $135.14 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.31. The stock has a market capitalization of $21.12 billion, a PE ratio of 9.31, a P/E/G ratio of 8.30 and a beta of 0.71. The business has a fifty day moving average price of $140.12 and a two-hundred day moving average price of $140.91. Cincinnati Financial Co. has a fifty-two week low of $109.93 and a fifty-two week high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share 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, equities analysts predict that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be given a dividend of $0.87 per share. The ex-dividend date is Monday, March 24th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.58%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 23.97%.

Wall Street Analysts Forecast Growth

CINF has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Roth Mkm boosted their price target on Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler raised their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $151.00.

Insider Activity at Cincinnati Financial

In related 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 cost of $157.19 per share, with a total value of $157,190.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.83% of the stock is currently owned by company insiders.

Cincinnati Financial Company 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.