Sumitomo Mitsui Trust Group Inc. Buys 3,367 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 384,563 shares of the insurance provider's stock after acquiring an additional 3,367 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Cincinnati Financial worth $55,262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Cincinnati Financial by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider's stock valued at $787,076,000 after acquiring an additional 1,218,919 shares during the last quarter. Boston Trust Walden Corp raised its stake in Cincinnati Financial by 2.3% during the 4th quarter. Boston Trust Walden Corp now owns 795,780 shares of the insurance provider's stock valued at $114,354,000 after purchasing an additional 18,192 shares during the period. Barclays PLC raised its stake in Cincinnati Financial by 13.1% during the 3rd quarter. Barclays PLC now owns 534,361 shares of the insurance provider's stock valued at $72,736,000 after purchasing an additional 61,801 shares during the period. JPMorgan Chase & Co. raised its stake in Cincinnati Financial by 49.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider's stock valued at $60,619,000 after purchasing an additional 147,542 shares during the period. Finally, Vest Financial LLC raised its stake in Cincinnati Financial by 10.4% during the 3rd quarter. Vest Financial LLC now owns 418,066 shares of the insurance provider's stock valued at $56,907,000 after purchasing an additional 39,349 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Stock Down 0.2 %

Shares of NASDAQ CINF traded down $0.22 during mid-day trading on Friday, reaching $136.97. The company had a trading volume of 948,657 shares, compared to its average volume of 759,395. Cincinnati Financial Co. has a twelve month low of $109.93 and a twelve month high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $21.41 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The stock's 50 day moving average is $142.07 and its 200-day moving average is $140.40.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 6.33 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a $0.87 dividend. The ex-dividend date of this dividend is Monday, March 24th. This is a boost from Cincinnati Financial's previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a yield of 2.54%. Cincinnati Financial's dividend payout ratio is currently 16.65%.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the acquisition, the director now owns 54,500 shares of the company's stock, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on CINF. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $180.00 to $182.00 and gave the company an "outperform" rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Finally, Roth Mkm boosted their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.00.

Cincinnati Financial Profile

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.