Sumitomo Mitsui Trust Group Inc. Sells 21,587 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Sumitomo Mitsui Trust Group reduced its stake in Cincinnati Financial by 5.5%, selling 21,587 shares and holding 370,468 shares (about 0.24% of the company) valued at approximately $60.5 million per its latest 13F filing.
• EPS beat: Cincinnati Financial reported $3.37 EPS vs. $2.86 expected and revenue of $3.09 billion (up 21.8% year-over-year), beating estimates for the quarter.
• The company raised its quarterly dividend to $0.94 (annualized $3.76, yield ~2.3%), and the stock trades at a ~10.8 P/E with a $25.4 billion market cap while analysts' consensus rating is "Moderate Buy" with a $174.75 target.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 5.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 370,468 shares of the insurance provider's stock after selling 21,587 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Cincinnati Financial worth $60,505,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp grew its position in Cincinnati Financial by 0.3% in the third quarter. State Street Corp now owns 8,542,265 shares of the insurance provider's stock valued at $1,357,825,000 after acquiring an additional 26,475 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Cincinnati Financial by 4.2% in the second quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider's stock worth $299,553,000 after acquiring an additional 80,487 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cincinnati Financial by 3.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,471,628 shares of the insurance provider's stock valued at $232,643,000 after purchasing an additional 46,426 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Cincinnati Financial by 2.8% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider's stock valued at $222,238,000 after purchasing an additional 37,913 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Cincinnati Financial by 3.2% during the 3rd quarter. Bahl & Gaynor Inc. now owns 1,207,736 shares of the insurance provider's stock valued at $190,943,000 after purchasing an additional 37,321 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Down 0.2%

Shares of NASDAQ CINF opened at $163.35 on Wednesday. The company has a 50 day simple moving average of $162.87 and a 200 day simple moving average of $162.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. Cincinnati Financial Corporation has a 1 year low of $126.45 and a 1 year high of $174.27. The firm has a market cap of $25.43 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 3.68 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.51. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company's revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.14 EPS. On average, research analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $3.76 annualized dividend and a yield of 2.3%. This is an increase from Cincinnati Financial's previous quarterly dividend of $0.87. Cincinnati Financial's dividend payout ratio is 24.79%.

Wall Street Analyst Weigh In

CINF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Cincinnati Financial from $191.00 to $190.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Wall Street Zen lowered shares of Cincinnati Financial from a "buy" rating to a "hold" rating in a research report on Sunday, February 8th. Piper Sandler upped their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a "neutral" rating in a report on Monday, December 22nd. Weiss Ratings downgraded shares of Cincinnati Financial from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, March 24th. Finally, Bank of America cut their price objective on Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $174.75.

About Cincinnati Financial

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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