Cincinnati Financial Corporation $CINF Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 340,621 shares of the insurance provider’s stock after selling 15,255 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Cincinnati Financial worth $54,285,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CINF. State Street Corp raised its stake in Cincinnati Financial by 225.5% in the second quarter. State Street Corp now owns 26,974,052 shares of the insurance provider’s stock worth $4,993,976,000 after buying an additional 18,686,673 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Cincinnati Financial by 1,474.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock valued at $415,267,000 after acquiring an additional 2,100,563 shares in the last quarter. Bank of America Corp DE bought a new stake in Cincinnati Financial during the 2nd quarter valued at approximately $347,891,000. First Trust Advisors LP grew its holdings in shares of Cincinnati Financial by 59.4% during the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after acquiring an additional 784,584 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Cincinnati Financial during the 3rd quarter worth approximately $248,705,000. Institutional investors own 65.24% of the company’s stock.

Insider Activity at Cincinnati Financial

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

Analyst Ratings Changes

CINF has been the topic of several research reports. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods lowered their price objective on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Roth Capital boosted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Piper Sandler upped their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.60.

Cincinnati Financial Price Performance

CINF opened at $184.34 on Wednesday. The company’s 50-day simple moving average is $169.90 and its two-hundred day simple moving average is $168.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $28.30 billion, a P/E ratio of 10.81, a P/E/G ratio of 2.95 and a beta of 0.48. Cincinnati Financial Corporation has a 52-week low of $153.40 and a 52-week high of $194.81.

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

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were paid 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 22.05%.

About Cincinnati Financial

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.