Cincinnati Financial Corporation $CINF Shares Bought by Andra AP fonden

Key Points

• Andra AP fonden nearly doubled its Cincinnati Financial stake in the second quarter, acquiring 54,199 additional shares to own 108,740 shares valued at approximately $20.1 million. Institutional investors and hedge funds collectively hold 65.24% of the company.
• Cincinnati Financial’s latest quarterly results missed expectations, with earnings of $1.43 per share versus the $1.82 consensus estimate, although revenue reached $4.27 billion. Shares recently traded at $166.34, below the analyst consensus price target of $195.40.
• The company declared a quarterly dividend of $0.94 per share, equivalent to an annualized $3.76 payout and a 2.3% yield. A company director also purchased 1,000 shares, while analysts maintain a “Moderate Buy” consensus rating.

Andra AP fonden lifted its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 99.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 108,740 shares of the insurance provider's stock after buying an additional 54,199 shares during the quarter. Andra AP fonden owned approximately 0.07% of Cincinnati Financial worth $20,132,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. BIP Wealth LLC increased its position in Cincinnati Financial by 1.6% in the second quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider's stock worth $720,000 after buying an additional 63 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Cincinnati Financial by 2.1% during the second quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider's stock worth $577,000 after acquiring an additional 64 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Cincinnati Financial by 0.5% during the second quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider's stock worth $2,616,000 after acquiring an additional 68 shares during the last quarter. McAdam LLC increased its holdings in shares of Cincinnati Financial by 2.6% in the 2nd quarter. McAdam LLC now owns 2,763 shares of the insurance provider's stock worth $512,000 after acquiring an additional 70 shares during the period. Finally, Essex Financial Services Inc. lifted its position in Cincinnati Financial by 3.5% in the 4th quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider's stock valued at $374,000 after purchasing an additional 77 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk Debbink bought 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the purchase, the director directly owned 62,059 shares of the company's stock, valued at $10,651,806.76. This represents a 1.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.94% of the stock is currently owned by company insiders.

Cincinnati Financial Price Performance

Shares of CINF stock traded down $0.51 during midday trading on Tuesday, reaching $166.34. 188,510 shares of the company were exchanged, compared to its average volume of 742,184. The company's 50 day moving average price is $174.05 and its two-hundred day moving average price is $169.39. The company has a market cap of $25.53 billion, a P/E ratio of 7.85, a PEG ratio of 3.54 and a beta of 0.53. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter in the prior year, the business earned $1.97 EPS. On average, sell-side analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial's payout ratio is currently 17.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, September 10th. Piper Sandler lifted their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. Bank of America lowered Cincinnati Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Finally, Roth Capital boosted their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $195.40.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers' compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.