Mather Group LLC. Sells 2,818 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Mather Group LLC reduced its stake in Cincinnati Financial Corporation by 2.6% in Q2, selling 2,818 shares, and now holds approximately 106,061 shares valued at $15.8 million.
• Several institutional investors, including the Public Employees Retirement System of Ohio and GAMMA Investing LLC, increased their holdings in Cincinnati Financial during the same period, demonstrating continued interest in the company.
• Cincinnati Financial recently announced a quarterly dividend of $0.87 per share, with an annual yield of 2.3%, supportive of its strong financial performance and a net margin of 15.59%.

Mather Group LLC. lessened its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 106,061 shares of the insurance provider's stock after selling 2,818 shares during the quarter. Mather Group LLC. owned approximately 0.07% of Cincinnati Financial worth $15,795,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CINF. Public Employees Retirement System of Ohio boosted its stake in Cincinnati Financial by 2.1% in the second quarter. Public Employees Retirement System of Ohio now owns 95,914 shares of the insurance provider's stock valued at $14,284,000 after acquiring an additional 1,965 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Cincinnati Financial by 1.7% during the 2nd quarter. Fifth Third Bancorp now owns 602,963 shares of the insurance provider's stock valued at $89,793,000 after acquiring an additional 10,002 shares during the last quarter. Optima Capital LLC acquired a new position in shares of Cincinnati Financial in the 2nd quarter valued at $203,000. Opal Wealth Advisors LLC boosted its position in shares of Cincinnati Financial by 241.4% in the 2nd quarter. Opal Wealth Advisors LLC now owns 1,096 shares of the insurance provider's stock worth $163,000 after purchasing an additional 775 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Cincinnati Financial by 9.3% during the second quarter. GAMMA Investing LLC now owns 6,035 shares of the insurance provider's stock worth $899,000 after purchasing an additional 511 shares during the period. Institutional investors and hedge funds own 65.24% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CINF. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Roth Capital increased their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average target price of $159.40.

Cincinnati Financial Price Performance

NASDAQ CINF opened at $154.44 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $24.15 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 7.57 and a beta of 0.72. The business has a 50 day simple moving average of $152.26 and a 200 day simple moving average of $146.64. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The business's revenue was up 15.5% on a year-over-year basis. Analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial's dividend payout ratio is 30.18%.

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.

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