Cincinnati Financial Co. (NASDAQ:CINF) Stock Holdings Lowered by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 0.4% during the third quarter, Holdings Channel reports. The firm owned 381,196 shares of the insurance provider’s stock after selling 1,719 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Cincinnati Financial were worth $51,888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CINF. Avantax Advisory Services Inc. raised its holdings in shares of Cincinnati Financial by 24.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,604 shares of the insurance provider’s stock worth $696,000 after purchasing an additional 1,085 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Cincinnati Financial by 330.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 11,440 shares of the insurance provider’s stock valued at $1,421,000 after acquiring an additional 8,784 shares during the period. Covestor Ltd raised its holdings in shares of Cincinnati Financial by 728.6% during the first quarter. Covestor Ltd now owns 1,160 shares of the insurance provider’s stock valued at $144,000 after acquiring an additional 1,020 shares during the period. Bahl & Gaynor Inc. raised its holdings in shares of Cincinnati Financial by 0.3% during the first quarter. Bahl & Gaynor Inc. now owns 1,008,406 shares of the insurance provider’s stock valued at $125,214,000 after acquiring an additional 3,191 shares during the period. Finally, Spreng Capital Management Inc. acquired a new stake in shares of Cincinnati Financial during the first quarter valued at approximately $217,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Performance

CINF stock opened at $151.78 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $23.73 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 2.86 and a beta of 0.65. Cincinnati Financial Co. has a 12 month low of $99.61 and a 12 month high of $152.30. The firm has a 50 day moving average of $139.22 and a two-hundred day moving average of $127.88.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 6.35 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.13%. Cincinnati Financial’s dividend payout ratio is 16.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Roth Mkm boosted their price target 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 boosted their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Bank of America boosted their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $138.57.

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.