SEB Asset Management AB Invests $8.24 Million in Cincinnati Financial Corporation $CINF

Key Points

• SEB Asset Management AB opened a new position in Cincinnati Financial during the first quarter, buying 52,401 shares worth about $8.24 million.
• Wall Street sentiment is mixed but generally positive: the stock carries a Moderate Buy consensus rating, with an average price target of $192.40.
• Cincinnati Financial reported better-than-expected Q1 results, including EPS of $2.10 versus $1.93 expected, and recently paid a $0.94 quarterly dividend for a 2.1% yield.

SEB Asset Management AB acquired a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 52,401 shares of the insurance provider's stock, valued at approximately $8,245,000.

Several other large investors have also bought and sold shares of CINF. Lodestone Wealth Management LLC bought a new position in shares of Cincinnati Financial in the fourth quarter worth about $25,000. Motiv8 Investments LLC bought a new stake in shares of Cincinnati Financial during the 4th quarter valued at approximately $29,000. DV Equities LLC acquired a new position in Cincinnati Financial during the 4th quarter worth approximately $36,000. Legacy Wealth Managment LLC ID increased its position in Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider's stock worth $40,000 after purchasing an additional 108 shares in the last quarter. Finally, SHP Wealth Management bought a new position in Cincinnati Financial in the 4th quarter valued at approximately $44,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CINF. Bank of America cut their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Piper Sandler raised their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Roth Capital boosted their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $192.40.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $180.51 on Wednesday. The stock's 50 day moving average is $172.64 and its 200 day moving average is $166.21. Cincinnati Financial Corporation has a one year low of $143.87 and a one year high of $194.81. The firm has a market cap of $27.92 billion, a P/E ratio of 10.32, a P/E/G ratio of 3.69 and a beta of 0.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the firm posted ($0.24) EPS. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Cincinnati Financial Corporation will post 8.76 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.1%. Cincinnati Financial's dividend payout ratio is 21.50%.

About Cincinnati Financial

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Corporation (NASDAQ:CINF - Free Report).

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.