Sumitomo Mitsui Trust Holdings Inc. reduced its position in Cincinnati Financial Co. (NASDAQ:CINF) by 6.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 481,792 shares of the insurance provider’s stock after selling 31,778 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of Cincinnati Financial worth $36,891,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CINF. Janus Henderson Group PLC grew its holdings in Cincinnati Financial by 4,980.7% during the 2nd quarter. Janus Henderson Group PLC now owns 1,023,094 shares of the insurance provider’s stock valued at $74,123,000 after buying an additional 1,002,957 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cincinnati Financial by 2.4% during the second quarter. Vanguard Group Inc. now owns 17,010,783 shares of the insurance provider’s stock worth $1,232,431,000 after purchasing an additional 392,312 shares in the last quarter. Fairpointe Capital LLC grew its holdings in shares of Cincinnati Financial by 72.3% during the second quarter. Fairpointe Capital LLC now owns 811,439 shares of the insurance provider’s stock worth $58,789,000 after purchasing an additional 340,373 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Cincinnati Financial by 118.1% during the second quarter. Renaissance Technologies LLC now owns 375,000 shares of the insurance provider’s stock worth $27,169,000 after purchasing an additional 203,055 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its holdings in shares of Cincinnati Financial by 2,409.4% during the second quarter. Marshall Wace North America L.P. now owns 108,431 shares of the insurance provider’s stock worth $7,807,000 after purchasing an additional 104,110 shares in the last quarter. Institutional investors and hedge funds own 64.55% of the company’s stock.
CINF has been the subject of several recent analyst reports. BidaskClub raised Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $70.00 target price on shares of Cincinnati Financial in a research note on Friday, August 18th. Finally, Zacks Investment Research raised Cincinnati Financial from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $79.25.
Shares of Cincinnati Financial Co. (CINF) traded down $0.30 during mid-day trading on Thursday, reaching $74.16. The company’s stock had a trading volume of 409,462 shares, compared to its average volume of 524,432. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. Cincinnati Financial Co. has a 12-month low of $68.24 and a 12-month high of $81.98. The company has a market capitalization of $12,203.66, a P/E ratio of 29.06 and a beta of 0.93.
Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, October 26th. The insurance provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Cincinnati Financial had a return on equity of 5.85% and a net margin of 8.93%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. equities analysts forecast that Cincinnati Financial Co. will post 2.65 EPS for the current year.
The firm also recently announced a special dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.50 per share. This represents a dividend yield of 2.72%. The ex-dividend date is Thursday, November 30th. This is an increase from Cincinnati Financial’s previous special dividend of $0.46. Cincinnati Financial’s dividend payout ratio is currently 66.23%.
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Cincinnati Financial Company Profile
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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