Nykredit A S Invests $29.34 Million in Cincinnati Financial Corporation $CINF

Key Points

• Nykredit A/S acquired 158,473 shares of Cincinnati Financial worth approximately $29.34 million, joining other institutional investors that collectively own 65.24% of the insurer.
• Cincinnati Financial reported quarterly EPS of $1.43, below the $1.82 analyst consensus, although revenue of $4.27 billion exceeded the $2.71 billion estimate.
• The company declared a quarterly dividend of $0.94 per share, equivalent to $3.76 annually and a 2.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $195.40.

Nykredit A S purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 158,473 shares of the insurance provider's stock, valued at approximately $29,340,000. Nykredit A S owned about 0.10% of Cincinnati Financial as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Keating Financial Advisory Services Inc. acquired a new position in Cincinnati Financial in the 2nd quarter valued at $27,000. Covestor Ltd increased its holdings in Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock valued at $31,000 after buying an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Cincinnati Financial in the first quarter valued at $34,000. SHP Wealth Management purchased a new stake in Cincinnati Financial in the 4th quarter valued at $44,000. Finally, Westpac Banking Corp purchased a new position in shares of Cincinnati Financial in the 2nd quarter valued at approximately $55,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

NASDAQ:CINF opened at $169.00 on Friday. The company's 50-day moving average price is $174.37 and its two-hundred day moving average price is $169.41. The firm has a market cap of $25.94 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 3.55 and a beta of 0.53. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued 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). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the company earned $1.97 EPS. On average, equities analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial's dividend payout ratio (DPR) is currently 17.74%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Dirk Debbink purchased 1,000 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was purchased at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the purchase, the director directly owned 62,059 shares in the company, valued at $10,651,806.76. The trade was a 1.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.94% of the company's stock.

Cincinnati Financial 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.

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