KLP Kapitalforvaltning AS Sells 29,200 Shares of Cincinnati Financial Corporation $CINF

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in Cincinnati Financial Corporation by 34.5%, selling 29,200 shares and leaving it with 55,324 shares worth approximately $8.28 million.
• Four analysts have rated Cincinnati Financial as a Buy, indicating strong interest and confidence in the company, with an average target price of $157.25.
• Cincinnati Financial announced a quarterly dividend of $0.87 per share, equating to an annual dividend yield of 2.2%, with the payout scheduled for October 15.

KLP Kapitalforvaltning AS decreased its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 34.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,324 shares of the insurance provider's stock after selling 29,200 shares during the period. KLP Kapitalforvaltning AS's holdings in Cincinnati Financial were worth $8,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Cincinnati Financial in the first quarter valued at approximately $337,000. FJ Capital Management LLC increased its stake in shares of Cincinnati Financial by 97.5% during the first quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider's stock worth $4,327,000 after purchasing an additional 14,464 shares during the period. M&T Bank Corp increased its stake in shares of Cincinnati Financial by 12.7% during the first quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider's stock worth $1,161,000 after purchasing an additional 887 shares during the period. CWA Asset Management Group LLC increased its stake 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 purchasing an additional 94 shares during the period. Finally, OLD Republic International Corp increased its stake in shares of Cincinnati Financial by 1.0% during the first quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider's stock worth $58,955,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CINF. Weiss Ratings reiterated a "buy (b)" rating on shares of Cincinnati Financial in a research note on Wednesday. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, Roth Capital increased their target price on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $157.25.

Cincinnati Financial Trading Down 2.3%

Shares of NASDAQ:CINF opened at $161.68 on Friday. The company has a market capitalization of $25.28 billion, a P/E ratio of 14.02, a P/E/G ratio of 8.09 and a beta of 0.72. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $166.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The business's 50 day simple moving average is $154.85 and its 200 day simple moving average is $147.96.

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

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's dividend payout ratio (DPR) is currently 30.18%.

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.

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