KLP Kapitalforvaltning AS Purchases New Stake in Cincinnati Financial Co. (NASDAQ:CINF)

KLP Kapitalforvaltning AS purchased a new stake in Cincinnati Financial Co. (NASDAQ:CINF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 84,524 shares of the insurance provider’s stock, valued at approximately $12,204,000. KLP Kapitalforvaltning AS owned 0.05% of Cincinnati Financial at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in Cincinnati Financial by 2.4% in the 4th quarter. Sei Investments Co. now owns 35,792 shares of the insurance provider’s stock valued at $5,143,000 after buying an additional 824 shares in the last quarter. American Century Companies Inc. grew its holdings in Cincinnati Financial by 2.0% in the 4th quarter. American Century Companies Inc. now owns 51,658 shares of the insurance provider’s stock valued at $7,423,000 after buying an additional 1,020 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in Cincinnati Financial by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 14,815 shares of the insurance provider’s stock valued at $2,129,000 after buying an additional 4,684 shares in the last quarter. HUB Investment Partners LLC acquired a new position in Cincinnati Financial in the 4th quarter valued at $258,000. Finally, iA Global Asset Management Inc. acquired a new position in Cincinnati Financial in the 4th quarter valued at $647,000. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CINF shares. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Roth Mkm increased their target price on Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.00.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $145.62 on Monday. The stock’s 50-day simple moving average is $139.96 and its 200 day simple moving average is $142.43. The firm has a market capitalization of $22.80 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a twelve month low of $109.93 and a twelve month high of $161.75.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, beating the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. On average, analysts anticipate that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Monday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.39%. Cincinnati Financial’s dividend payout ratio (DPR) is 23.97%.

Cincinnati Financial 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.