Sumitomo Mitsui Trust Holdings Inc. Has $42.20 Million Stake in Cincinnati Financial Co. (NASDAQ:CINF)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & 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. owned 0.26% of Cincinnati Financial worth $42,201,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Cincinnati Financial by 1.2% during the first quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider’s stock valued at $2,453,379,000 after buying an additional 211,402 shares during the period. State Street Corp grew its stake in Cincinnati Financial by 4.1% during the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock valued at $1,246,056,000 after acquiring an additional 360,552 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cincinnati Financial by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 3,343,865 shares of the insurance provider’s stock valued at $373,978,000 after purchasing an additional 67,706 shares during the period. Bank of America Corp DE lifted its position in shares of Cincinnati Financial by 1.4% in the first quarter. Bank of America Corp DE now owns 3,037,811 shares of the insurance provider’s stock worth $340,478,000 after purchasing an additional 42,128 shares in the last quarter. Finally, London Co. of Virginia boosted its holdings in shares of Cincinnati Financial by 7.8% during the third quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock worth $283,658,000 after purchasing an additional 200,414 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

CINF opened at $119.95 on Friday. The stock has a 50-day moving average of $116.99 and a 200-day moving average of $108.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. Cincinnati Financial Co. has a 52-week low of $95.01 and a 52-week high of $124.35. The company has a market cap of $18.79 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 2.37 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast 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 issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Monday, March 18th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s dividend payout ratio (DPR) is 27.76%.

Analyst Ratings Changes

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

Cincinnati Financial Company 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.