Danske Bank A S Acquires Shares of 166,389 Cincinnati Financial Corporation $CINF

Danske Bank A S bought a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 166,389 shares of the insurance provider’s stock, valued at approximately $30,805,000. Danske Bank A S owned about 0.11% of Cincinnati Financial at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Motiv8 Investments LLC purchased a new stake in Cincinnati Financial during the fourth quarter worth about $29,000. Covestor Ltd boosted its stake in Cincinnati Financial by 98.8% in the second quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Cincinnati Financial during the 1st quarter valued at approximately $34,000. DV Equities LLC bought a new position in shares of Cincinnati Financial during the 4th quarter valued at approximately $36,000. Finally, Legacy Wealth Managment LLC ID increased its stake in shares of Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 108 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CINF shares. Piper Sandler increased their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their price target on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 5th. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Weiss Ratings raised Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. Finally, Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average target price of $195.40.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $168.49 on Thursday. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81. The business has a fifty day moving average price of $177.98 and a 200-day moving average price of $168.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $25.86 billion, a P/E ratio of 7.95, a PEG ratio of 3.59 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter last year, the firm posted $1.97 earnings per share. As a group, equities research analysts forecast that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

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.