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

SEB Asset Management AB acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 52,401 shares of the insurance provider’s stock, valued at approximately $8,245,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Cincinnati Financial during the fourth quarter worth approximately $270,892,000. Arrowstreet Capital Limited Partnership lifted its stake in Cincinnati Financial by 193.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock valued at $98,161,000 after buying an additional 396,086 shares during the period. First Trust Advisors LP boosted its holdings in shares of Cincinnati Financial by 38.5% during the 4th quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock worth $215,562,000 after buying an additional 367,224 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Cincinnati Financial by 48.6% during the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after buying an additional 262,715 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $32,692,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CINF shares. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Roth Capital raised their price target on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research note on Wednesday, July 8th. Finally, Bank of America dropped their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.40.

Cincinnati Financial Trading Up 0.1%

NASDAQ CINF opened at $180.51 on Wednesday. The company has a market cap of $27.92 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 3.69 and a beta of 0.54. Cincinnati Financial Corporation has a 52 week low of $143.87 and a 52 week high of $194.81. The business has a 50 day moving average price of $172.64 and a 200-day moving average price of $166.21. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the firm earned ($0.24) earnings per share. Cincinnati Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts expect that Cincinnati Financial Corporation will post 8.76 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is currently 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.