Swedbank AB Decreases Stock Holdings in Cincinnati Financial Corporation $CINF

Key Points

• Swedbank AB has reduced its stake in Cincinnati Financial Corporation by 58.9%, now holding 3,151 shares valued at approximately $469,000.
• Several hedge funds have increased their holdings in Cincinnati Financial, with FJ Capital Management boosting its stake by 97.5% during the first quarter.
• Cincinnati Financial recently announced a quarterly dividend of $0.87 per share, representing a yield of 2.2% and an annualized dividend of $3.48.

Swedbank AB lowered its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 58.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,151 shares of the insurance provider's stock after selling 4,520 shares during the quarter. Swedbank AB's holdings in Cincinnati Financial were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Cincinnati Financial during the first quarter valued at about $337,000. FJ Capital Management LLC boosted its stake in 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 acquiring an additional 14,464 shares in the last quarter. M&T Bank Corp boosted its stake in 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 acquiring an additional 887 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in 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 acquiring an additional 94 shares in the last quarter. Finally, OLD Republic International Corp boosted its stake in 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 acquiring an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CINF. Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Roth Capital boosted their price objective on shares of 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 given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.40.

Cincinnati Financial Stock Down 0.9%

Shares of Cincinnati Financial stock opened at $154.69 on Tuesday. The company has a market cap of $24.19 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 7.64 and a beta of 0.72. The company's 50 day moving average is $152.08 and its 200 day moving average is $146.58. Cincinnati Financial Corporation has a twelve month low of $123.01 and a twelve month high of $161.74. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.58. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 earnings per share. Research analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current 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 dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is currently 30.18%.

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.

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