Forsta AP Fonden Has $6.46 Million Position in Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Forsta AP Fonden has reduced its stake in Cincinnati Financial Corporation by 39.5%, now holding 43,700 shares valued at approximately $6.46 million.
• Several institutional investors, including GAMMA Investing LLC and Charles Schwab Investment Management Inc., have increased their positions significantly, with GAMMA's stake growing by an astounding 15,698.7%.
• Equity analysts have mixed ratings for Cincinnati Financial, with target price increases and an overall consensus rating of "Moderate Buy" alongside a consensus price target of $159.40.

Forsta AP Fonden trimmed its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 39.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,700 shares of the insurance provider's stock after selling 28,500 shares during the quarter. Forsta AP Fonden's holdings in Cincinnati Financial were worth $6,455,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park National Corp OH boosted its position in shares of Cincinnati Financial by 0.6% during the first quarter. Park National Corp OH now owns 12,686 shares of the insurance provider's stock worth $1,874,000 after buying an additional 72 shares during the period. Spire Wealth Management boosted its position in shares of Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after buying an additional 76 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in shares of Cincinnati Financial by 0.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider's stock worth $2,871,000 after buying an additional 91 shares during the period. CWA Asset Management Group LLC boosted its position in shares of Cincinnati Financial by 4.1% during the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock worth $352,000 after buying an additional 94 shares during the period. Finally, Brass Tax Wealth Management Inc. boosted its position in shares of Cincinnati Financial by 5.2% during the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider's stock worth $279,000 after buying an additional 94 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF traded up $0.20 during trading on Thursday, hitting $154.21. The company had a trading volume of 312,282 shares, compared to its average volume of 693,948. The company has a market cap of $24.11 billion, a P/E ratio of 13.37, a PEG ratio of 7.51 and a beta of 0.70. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $161.74. The business's 50-day moving average is $148.35 and its 200 day moving average is $143.58. 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 posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.58. The company had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%. The firm's revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. Equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CINF has been the subject of several analyst reports. Roth Capital boosted their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Wall Street Zen raised Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.40.

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.