Cincinnati Financial Corporation $CINF Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Cincinnati Financial Corporation by 18.8%, purchasing an additional 3,226 shares, now owning a total of 20,404 shares valued at approximately $3,039,000.
• Cincinnati Financial recently reported earnings of $1.97 per share, exceeding estimates by $0.58, while its revenue was $2.48 billion, which fell short of expectations.
• The company announced a $0.87 quarterly dividend, which will be paid to shareholders of record on September 22nd, representing an annualized yield of 2.2%.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 18.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 20,404 shares of the insurance provider's stock after acquiring an additional 3,226 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Cincinnati Financial were worth $3,039,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Cincinnati Financial by 0.5% in the first quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider's stock valued at $2,844,419,000 after buying an additional 87,773 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cincinnati Financial by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock valued at $940,130,000 after purchasing an additional 358,018 shares during the period. Invesco Ltd. grew its holdings in shares of Cincinnati Financial by 2.2% in the first quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider's stock valued at $273,062,000 after purchasing an additional 40,222 shares during the period. GQG Partners LLC purchased a new position in Cincinnati Financial during the first quarter worth about $270,005,000. Finally, Johnson Investment Counsel Inc. boosted its stake in Cincinnati Financial by 4.2% during the first quarter. Johnson Investment Counsel Inc. now owns 1,388,176 shares of the insurance provider's stock worth $205,061,000 after buying an additional 55,487 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Roth Capital raised their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Stock Up 0.3%

Cincinnati Financial stock traded up $0.47 during trading on Tuesday, reaching $155.16. The stock had a trading volume of 95,381 shares, compared to its average volume of 658,604. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $161.74. The business has a 50 day moving average price of $152.08 and a 200 day moving average price of $146.58. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock has a market cap of $24.26 billion, a PE ratio of 13.46, a P/E/G ratio of 7.64 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The firm's quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's payout ratio is currently 30.18%.

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.