Sumitomo Mitsui DS Asset Management Company Ltd Increases Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 16,738 shares of the insurance provider’s stock after buying an additional 424 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cincinnati Financial were worth $2,405,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CINF. Sumitomo Mitsui Trust Group Inc. boosted its stake in Cincinnati Financial by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 384,563 shares of the insurance provider’s stock worth $55,262,000 after purchasing an additional 3,367 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Cincinnati Financial in the fourth quarter worth $27,000. Strategic Financial Concepts LLC purchased a new position in Cincinnati Financial during the fourth quarter valued at $7,809,000. Consolidated Portfolio Review Corp bought a new stake in Cincinnati Financial in the 4th quarter valued at $250,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Cincinnati Financial by 13.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,478 shares of the insurance provider’s stock worth $19,227,000 after purchasing an additional 16,085 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the acquisition, the director now owns 54,500 shares of the company’s stock, valued at $8,566,855. The trade was a 1.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CINF. Piper Sandler raised their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Cincinnati Financial Stock Down 1.0 %

Shares of NASDAQ CINF opened at $135.62 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 12-month low of $107.75 and a 12-month high of $161.74. The firm’s 50-day moving average price is $143.70 and its 200-day moving average price is $140.25. The stock has a market capitalization of $21.20 billion, a price-to-earnings ratio of 6.97, a P/E/G ratio of 2.42 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. On average, equities research analysts anticipate that Cincinnati Financial Co. will post 6.33 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.57%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. Cincinnati Financial’s payout ratio is presently 16.65%.

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.