Mather Group LLC. Reduces Stake in Cincinnati Financial Corporation $CINF

Mather Group LLC. lowered its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 5.5% during the fourth quarter, Holdings Channel reports. The firm owned 98,791 shares of the insurance provider’s stock after selling 5,745 shares during the period. Mather Group LLC.’s holdings in Cincinnati Financial were worth $16,135,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Cincinnati Financial during the second quarter worth approximately $235,714,000. Raymond James Financial Inc. increased its stake in Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after buying an additional 262,715 shares during the period. Amundi raised its holdings in Cincinnati Financial by 113.6% during the second quarter. Amundi now owns 454,996 shares of the insurance provider’s stock worth $66,479,000 after purchasing an additional 242,020 shares in the last quarter. Korea Investment CORP raised its stake in shares of Cincinnati Financial by 210.0% during the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock worth $46,548,000 after buying an additional 199,437 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after acquiring an additional 173,343 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on CINF shares. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Piper Sandler boosted their target price on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research note on Monday, December 22nd. Weiss Ratings downgraded Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Stock Up 1.4%

Shares of NASDAQ CINF opened at $157.55 on Friday. The stock has a fifty day moving average price of $162.95 and a 200 day moving average price of $161.65. The company has a market cap of $24.53 billion, a P/E ratio of 10.39, a P/E/G ratio of 3.46 and a beta of 0.63. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.45% and a net margin of 18.94%.Cincinnati Financial’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.14 EPS. Research analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders 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 is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.4%. Cincinnati Financial’s dividend payout ratio is presently 24.79%.

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.