Handelsbanken Fonder AB Sells 9,617 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Handelsbanken Fonder AB cut its holdings in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 27.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,952 shares of the insurance provider's stock after selling 9,617 shares during the period. Handelsbanken Fonder AB's holdings in Cincinnati Financial were worth $2,685,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. London Co. of Virginia boosted its holdings in shares of Cincinnati Financial by 7.8% in the 3rd quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider's stock valued at $283,658,000 after buying an additional 200,414 shares during the period. Northern Trust Corp boosted its stake in Cincinnati Financial by 2.0% during the 3rd quarter. Northern Trust Corp now owns 1,732,270 shares of the insurance provider's stock valued at $177,194,000 after purchasing an additional 33,942 shares during the period. Johnson Investment Counsel Inc. boosted its stake in Cincinnati Financial by 2.6% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,353,199 shares of the insurance provider's stock valued at $138,419,000 after purchasing an additional 34,880 shares during the period. Invesco Ltd. boosted its stake in Cincinnati Financial by 2.9% during the 3rd quarter. Invesco Ltd. now owns 1,287,675 shares of the insurance provider's stock valued at $131,716,000 after purchasing an additional 36,759 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Cincinnati Financial by 3.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,245,242 shares of the insurance provider's stock valued at $127,376,000 after purchasing an additional 36,024 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF traded down $7.56 during midday trading on Friday, reaching $110.88. The company's stock had a trading volume of 2,184,563 shares, compared to its average volume of 567,488. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $117.71 and a 200 day moving average price of $109.13. Cincinnati Financial Co. has a one year low of $95.01 and a one year high of $124.35. The company has a market cap of $17.37 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Thursday, April 25th. The insurance provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.03. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.63%. The business had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm earned $0.89 EPS. The business's revenue for the quarter was up 31.0% on a year-over-year basis. On average, equities research analysts expect that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on CINF. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. Citigroup boosted their target price on shares of Cincinnati Financial from $120.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, April 16th. Piper Sandler restated a "neutral" rating and set a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. BMO Capital Markets upgraded shares of Cincinnati Financial from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Finally, TheStreet upgraded shares of Cincinnati Financial from a "c+" rating to a "b" rating in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $123.57.

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.