BI Asset Management Fondsmaeglerselskab A S Raises Position in Cincinnati Financial Corporation $CINF

Key Points

• BI Asset Management Fondsmaeglerselskab A S boosted its stake in Cincinnati Financial by 185.1% in the first quarter, buying 27,419 additional shares and bringing its total holdings to 42,234 shares worth about $6.65 million.
• Cincinnati Financial reported strong quarterly results, with EPS of $2.10 beating estimates of $1.93 and revenue of $2.86 billion topping expectations; revenue also rose 11.6% year over year.
• The insurer declared a quarterly dividend of $0.94 per share, payable July 15, implying an annualized dividend of $3.76 and a yield of about 2.2%.

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 185.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,234 shares of the insurance provider's stock after purchasing an additional 27,419 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Cincinnati Financial were worth $6,646,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Cincinnati Financial during the 4th quarter worth approximately $270,892,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Cincinnati Financial by 193.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider's stock valued at $98,161,000 after buying an additional 396,086 shares during the last quarter. First Trust Advisors LP increased its position in shares of Cincinnati Financial by 38.5% in the 4th quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider's stock valued at $215,562,000 after acquiring an additional 367,224 shares during the period. Raymond James Financial Inc. increased its position in shares of Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider's stock valued at $119,682,000 after acquiring an additional 262,715 shares during the period. Finally, Korea Investment CORP raised its stake in Cincinnati Financial by 210.0% in the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider's stock worth $46,548,000 after acquiring an additional 199,437 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $170.25 on Monday. The firm has a market capitalization of $26.34 billion, a P/E ratio of 9.73, a PEG ratio of 3.70 and a beta of 0.57. The stock has a 50-day simple moving average of $164.76 and a two-hundred day simple moving average of $163.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. Cincinnati Financial Corporation has a fifty-two week low of $143.37 and a fifty-two week high of $174.27.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.17. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.24) earnings per share. On average, equities analysts forecast that Cincinnati Financial Corporation will post 8.61 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial's payout ratio is currently 21.50%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America lowered their price target on Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Piper Sandler increased their price objective on Cincinnati Financial from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $190.00 to $191.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Roth Mkm lifted their target price on Cincinnati Financial from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings lowered Cincinnati Financial from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Thursday, June 11th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $183.25.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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