Skandinaviska Enskilda Banken AB publ Buys 24,100 Shares of Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Cincinnati Financial Corporation by 28.8%, owning 107,821 shares worth approximately $15.92 million as of its latest SEC filing.
• Several other institutional investors have also raised their positions in Cincinnati Financial, with a total of 65.24% of the company's stock now held by institutions.
• Cincinnati Financial recently reported quarterly earnings of ($0.24) EPS, outperforming estimates, and announced a quarterly dividend of $0.87 per share, yielding 2.33% annually.

Skandinaviska Enskilda Banken AB publ increased its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 28.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,821 shares of the insurance provider's stock after purchasing an additional 24,100 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.07% of Cincinnati Financial worth $15,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Park National Corp OH increased its stake in Cincinnati Financial by 0.6% during the 1st quarter. Park National Corp OH now owns 12,686 shares of the insurance provider's stock worth $1,874,000 after acquiring an additional 72 shares during the period. Spire Wealth Management increased its stake in Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after acquiring an additional 76 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in Cincinnati Financial by 0.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider's stock worth $2,871,000 after acquiring an additional 91 shares during the period. CWA Asset Management Group LLC increased its stake in Cincinnati Financial by 4.1% during the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock worth $352,000 after acquiring an additional 94 shares during the period. Finally, Brass Tax Wealth Management Inc. increased its stake in Cincinnati Financial by 5.2% during the 1st quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider's stock worth $279,000 after acquiring an additional 94 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Roth Capital lifted their price target on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday. 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 raised their price objective on Cincinnati Financial from $150.00 to $167.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $159.20.

Cincinnati Financial Trading Down 0.8%

Shares of NASDAQ:CINF traded down $1.18 during midday trading on Wednesday, reaching $151.24. The company's stock had a trading volume of 172,106 shares, compared to its average volume of 699,771. The firm has a market capitalization of $23.64 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 9.77 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a 50 day moving average price of $147.93 and a two-hundred day moving average price of $142.76. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $161.74.

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 for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.20% and a net margin of 15.59%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the business earned $1.29 EPS. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 23rd were paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Monday, June 23rd. 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.