Sumitomo Mitsui Trust Holdings Inc. Sells 12,266 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 407,899 shares of the insurance provider’s stock after selling 12,266 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Cincinnati Financial were worth $42,201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. bought a new position in Cincinnati Financial in the fourth quarter valued at approximately $981,000. Louisiana State Employees Retirement System acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth $983,000. Saxony Capital Management LLC bought a new stake in Cincinnati Financial in the 4th quarter valued at $456,000. Cerity Partners LLC boosted its stake in Cincinnati Financial by 13.4% in the 4th quarter. Cerity Partners LLC now owns 9,415 shares of the insurance provider’s stock worth $974,000 after purchasing an additional 1,109 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in Cincinnati Financial during the 4th quarter worth about $257,000. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CINF shares. Piper Sandler restated a “neutral” rating and issued a $116.00 price target on shares of Cincinnati Financial in a report on Monday, April 1st. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Finally, Citigroup increased their target price on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Cincinnati Financial has a consensus rating of “Hold” and a consensus target price of $123.57.

Cincinnati Financial Trading Up 2.1 %

Shares of Cincinnati Financial stock opened at $119.95 on Friday. The stock has a market cap of $18.79 billion, a P/E ratio of 10.28, a P/E/G ratio of 2.37 and a beta of 0.63. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 12-month low of $95.01 and a 12-month high of $124.35. The business’s 50 day moving average is $116.99 and its 200-day moving average is $108.48.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the firm posted $1.27 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that Cincinnati Financial Co. will post 6.2 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, March 19th were paid a $0.81 dividend. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Monday, March 18th. Cincinnati Financial’s dividend payout ratio (DPR) is 27.76%.

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.