Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 7,900 Shares of Cincinnati Financial Corporation $CINF

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Cincinnati Financial Corporation by 18.6% during the first quarter, now holding 34,486 shares valued at approximately $5.09 million.
• Cincinnati Financial reported $1.97 EPS for the last quarter, exceeding analysts' estimates of $1.39, with revenues amounting to $2.48 billion, though below expected revenues.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Cincinnati Financial, with a target price of $159.40, following recent upgrades from multiple research firms.

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 18.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,486 shares of the insurance provider's stock after selling 7,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Cincinnati Financial were worth $5,094,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CINF. GQG Partners LLC bought a new position in Cincinnati Financial in the first quarter valued at approximately $270,005,000. GAMMA Investing LLC raised its holdings in shares of Cincinnati Financial by 15,698.7% during the first quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock worth $120,540,000 after acquiring an additional 810,840 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cincinnati Financial by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock worth $940,130,000 after purchasing an additional 358,018 shares during the period. Topsail Wealth Management LLC acquired a new position in Cincinnati Financial in the 4th quarter worth $47,114,000. Finally, Nuveen LLC bought a new position in Cincinnati Financial during the 1st quarter worth about $47,070,000. Institutional investors own 65.24% of the company's stock.

Wall Street Analyst Weigh In

CINF has been the topic of a number of research reports. Roth Capital boosted their price target on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Cincinnati Financial presently has an average rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Stock Up 1.7%

Cincinnati Financial stock traded up $2.59 during mid-day trading on Tuesday, reaching $152.38. The company's stock had a trading volume of 542,880 shares, compared to its average volume of 692,846. The company has a market capitalization of $23.83 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 7.49 and a beta of 0.70. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $161.74. The business's 50 day simple moving average is $148.56 and its 200 day simple moving average is $143.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.58. The business 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 firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 earnings per share. As a group, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

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.