Cincinnati Financial Corporation $CINF Stock: Sumitomo Mitsui Trust Group Inc. Decreases Position

Sumitomo Mitsui Trust Group Inc. cut its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 340,621 shares of the insurance provider’s stock after selling 15,255 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Cincinnati Financial were worth $54,285,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. BIP Wealth LLC grew its holdings in Cincinnati Financial by 1.6% during the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock valued at $720,000 after purchasing an additional 63 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Cincinnati Financial by 2.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider’s stock worth $577,000 after purchasing an additional 64 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Cincinnati Financial by 0.5% in the second quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock worth $2,616,000 after purchasing an additional 68 shares during the last quarter. McAdam LLC lifted its stake in Cincinnati Financial by 2.6% in the second quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock worth $512,000 after purchasing an additional 70 shares during the last quarter. Finally, North Dakota State Investment Board lifted its stake in Cincinnati Financial by 1.8% in the third quarter. North Dakota State Investment Board now owns 4,662 shares of the insurance provider’s stock worth $743,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, August 25th. The stock was bought at an average cost of $171.64 per share, with a total value of $171,640.00. Following the transaction, the director owned 62,059 shares of the company’s stock, valued at $10,651,806.76. This represents a 1.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.94% of the company’s stock.

Cincinnati Financial Trading Up 0.3%

CINF opened at $184.34 on Wednesday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.05. The firm has a market cap of $28.30 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 2.95 and a beta of 0.48. Cincinnati Financial Corporation has a 12 month low of $153.40 and a 12 month high of $194.81. The stock has a fifty day moving average price of $169.90 and a 200-day moving average price of $168.36.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, October 26th. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.81. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.64 billion. Cincinnati Financial had a net margin of 20.07% and a return on equity of 9.48%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.85 EPS. As a group, equities research analysts anticipate that Cincinnati Financial Corporation will post 9.09 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were issued a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.0%. Cincinnati Financial’s dividend payout ratio is currently 22.05%.

Analysts Set New Price Targets

Several equities analysts have commented on CINF shares. Piper Sandler upped their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Roth Capital upped their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 12th. 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 company. According to data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average target price of $191.60.

Cincinnati Financial Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.