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

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 0.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 384,563 shares of the insurance provider’s stock after acquiring an additional 3,367 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Cincinnati Financial were worth $55,262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CINF. CWM LLC boosted its holdings in shares of Cincinnati Financial by 83.5% in the third quarter. CWM LLC now owns 15,392 shares of the insurance provider’s stock valued at $2,095,000 after acquiring an additional 7,004 shares in the last quarter. Wedmont Private Capital boosted its stake in Cincinnati Financial by 9.0% during the 3rd quarter. Wedmont Private Capital now owns 1,809 shares of the insurance provider’s stock valued at $240,000 after purchasing an additional 149 shares in the last quarter. UMB Bank n.a. increased its position in shares of Cincinnati Financial by 7.4% during the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock valued at $155,000 after purchasing an additional 79 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Cincinnati Financial by 1,111.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 763 shares of the insurance provider’s stock worth $104,000 after buying an additional 700 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Cincinnati Financial in the third quarter valued at $174,000. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

CINF has been the topic of several research reports. Piper Sandler boosted their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average target price of $143.33.

Insider Activity

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average cost of $157.19 per share, with a total value of $157,190.00. Following the completion of the transaction, the director now owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.83% of the company’s stock.

Cincinnati Financial Trading Down 1.0 %

Shares of NASDAQ CINF opened at $135.62 on Tuesday. The business has a fifty day simple moving average of $143.70 and a 200-day simple moving average of $140.25. The company has a market cap of $21.20 billion, a price-to-earnings ratio of 6.97, a P/E/G ratio of 2.42 and a beta of 0.71. Cincinnati Financial Co. has a 12 month low of $107.75 and a 12 month high of $161.74. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. Sell-side analysts predict that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.87 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, March 24th. Cincinnati Financial’s payout ratio is 16.65%.

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.