APG Asset Management N.V. Acquires 26,753 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

APG Asset Management N.V. raised its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 381,127 shares of the insurance provider’s stock after buying an additional 26,753 shares during the period. APG Asset Management N.V. owned about 0.24% of Cincinnati Financial worth $41,998,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CINF. State Board of Administration of Florida Retirement System lifted its position in Cincinnati Financial by 4.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock valued at $23,367,000 after acquiring an additional 7,709 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Cincinnati Financial by 40.6% in the first quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock valued at $20,904,000 after purchasing an additional 48,597 shares in the last quarter. United Advisor Group LLC purchased a new position in shares of Cincinnati Financial during the fourth quarter valued at approximately $888,000. Vest Financial LLC grew its holdings in Cincinnati Financial by 14.0% during the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after buying an additional 46,530 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Cincinnati Financial by 77.3% in the 1st quarter. SG Americas Securities LLC now owns 42,896 shares of the insurance provider’s stock valued at $5,326,000 after buying an additional 18,704 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Stock Performance

Shares of CINF opened at $135.64 on Friday. Cincinnati Financial Co. has a 1 year low of $96.86 and a 1 year high of $139.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The stock’s fifty day moving average price is $131.47 and its two-hundred day moving average price is $122.74. The firm has a market cap of $21.24 billion, a PE ratio of 9.02, a PEG ratio of 2.65 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. On average, equities research analysts forecast that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is currently 21.56%.

Wall Street Analysts Forecast Growth

CINF has been the subject of several analyst reports. Roth Mkm increased their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods increased their price objective on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, Bank of America decreased their price target on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus price target of $133.57.

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.