Nordea Investment Management AB Buys 144 Shares of Cincinnati Financial Corporation $CINF

Nordea Investment Management AB raised its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 1.2% during the second quarter, HoldingsChannel reports. The firm owned 12,483 shares of the insurance provider’s stock after buying an additional 144 shares during the quarter. Nordea Investment Management AB’s holdings in Cincinnati Financial were worth $1,830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quintet Private Bank Europe S.A. bought a new position in shares of Cincinnati Financial during the 2nd quarter valued at approximately $25,000. Spire Wealth Management boosted its stake in Cincinnati Financial by 77.6% during the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock worth $26,000 after buying an additional 76 shares during the period. Meeder Asset Management Inc. bought a new position in Cincinnati Financial during the first quarter valued at $26,000. Alpine Bank Wealth Management bought a new position in Cincinnati Financial during the first quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Cincinnati Financial in the first quarter valued at $32,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $155.47 on Thursday. The company’s 50-day simple moving average is $155.77 and its two-hundred day simple moving average is $148.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $166.90. The company has a market capitalization of $24.31 billion, a P/E ratio of 13.48, a P/E/G ratio of 7.32 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the business posted $1.29 EPS. Cincinnati Financial’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were issued a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, September 22nd. Cincinnati Financial’s payout ratio is presently 30.18%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CINF. Weiss Ratings reiterated a “buy (b)” rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $167.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Finally, Roth Capital increased their price target on Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.25.

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.