AMF Tjanstepension AB Makes New Investment in Cincinnati Financial Corporation $CINF

Key Points

• AMF Tjanstepension AB has acquired approximately 112,848 shares of Cincinnati Financial Corporation (CINF), valued at about $16.8 million, representing 0.07% ownership in the company.
• Analysts have given Cincinnati Financial a consensus rating of "Moderate Buy", with price targets ranging from $159.40 to $175.00.
• The company announced a quarterly dividend of $0.87 per share, reflecting a 2.1% yield, which will be paid on October 15th.

AMF Tjanstepension AB acquired a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 112,848 shares of the insurance provider's stock, valued at approximately $16,815,000. AMF Tjanstepension AB owned approximately 0.07% of Cincinnati Financial at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Quintet Private Bank Europe S.A. bought a new stake in Cincinnati Financial in the 2nd quarter worth approximately $25,000. Spire Wealth Management lifted its holdings in shares of Cincinnati Financial by 77.6% in the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after acquiring an additional 76 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Cincinnati Financial in the 1st quarter valued at $26,000. Alpine Bank Wealth Management bought a new position in shares of Cincinnati Financial during the 1st quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Cincinnati Financial in the 1st quarter worth $32,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CINF shares. Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Weiss Ratings restated a "buy (b)" rating on shares of Cincinnati Financial in a research report on Saturday, September 27th. Finally, Roth Capital upped their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Cincinnati Financial has a consensus rating of "Moderate Buy" and a consensus target price of $159.40.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $163.29 on Friday. The company has a market cap of $25.54 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 7.86 and a beta of 0.72. The company has a 50-day moving average price of $153.62 and a 200-day moving average price of $147.45. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $164.03.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.39 by $0.58. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 earnings per share. As a group, equities analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is 30.18%.

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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