Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 407,899 shares of the insurance provider's stock after selling 12,266 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of Cincinnati Financial worth $42,201,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of CINF. Providence Capital Advisors LLC increased its stake in shares of Cincinnati Financial by 11,107.1% in the 1st quarter. Providence Capital Advisors LLC now owns 3,138 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 3,110 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Cincinnati Financial during the 4th quarter valued at $31,000. AM Squared Ltd acquired a new stake in shares of Cincinnati Financial during the 1st quarter valued at $34,000. Clear Street Markets LLC boosted its holdings in shares of Cincinnati Financial by 93.1% during the 1st quarter. Clear Street Markets LLC now owns 309 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 149 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Cincinnati Financial during the 4th quarter valued at $37,000. Institutional investors own 65.24% of the company's stock.
Cincinnati Financial Stock Up 2.1 %
Cincinnati Financial stock traded up $2.43 during midday trading on Friday, reaching $119.95. The stock had a trading volume of 808,530 shares, compared to its average volume of 612,598. Cincinnati Financial Co. has a 12 month low of $95.01 and a 12 month high of $124.35. The company has a market capitalization of $18.79 billion, a P/E ratio of 10.28, a PEG ratio of 2.41 and a beta of 0.63. The company has a fifty day moving average price of $116.99 and a two-hundred day moving average price of $108.54. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07.
Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company posted $1.27 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts expect that Cincinnati Financial Co. will post 6.23 EPS for the current fiscal year.
Cincinnati Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, March 19th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.70%. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.75. The ex-dividend date was Monday, March 18th. Cincinnati Financial's payout ratio is presently 27.76%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on CINF shares. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $136.00 to $143.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. Piper Sandler reaffirmed a "neutral" rating and set a $116.00 target price on shares of Cincinnati Financial in a report on Monday, April 1st. Citigroup lifted their target price on Cincinnati Financial from $120.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday. TheStreet raised Cincinnati Financial from a "c+" rating to a "b" rating in a report on Tuesday, February 6th. Finally, BMO Capital Markets raised Cincinnati Financial from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $125.00 to $135.00 in a report on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $123.57.
Read Our Latest Research Report on Cincinnati Financial
Cincinnati Financial Company Profile
(
Free Report)
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.
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