Mariner LLC Sells 12,156 Shares of Cincinnati Financial Corporation $CINF

Mariner LLC cut its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 446,710 shares of the insurance provider’s stock after selling 12,156 shares during the quarter. Mariner LLC’s holdings in Cincinnati Financial were worth $72,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Cincinnati Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider’s stock worth $3,221,579,000 after acquiring an additional 123,110 shares during the last quarter. State Street Corp lifted its holdings in shares of Cincinnati Financial by 0.3% in the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock worth $1,357,825,000 after acquiring an additional 26,475 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cincinnati Financial by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock worth $1,083,151,000 after acquiring an additional 97,761 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cincinnati Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock worth $671,265,000 after acquiring an additional 25,888 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Cincinnati Financial by 4.2% in the 2nd quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock worth $299,553,000 after acquiring an additional 80,487 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CINF shares. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Roth Mkm lifted their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Bank of America decreased their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $183.25.

Cincinnati Financial Price Performance

NASDAQ CINF opened at $169.34 on Tuesday. The company has a 50-day moving average price of $163.93 and a 200-day moving average price of $163.49. The firm has a market capitalization of $26.20 billion, a P/E ratio of 9.68, a PEG ratio of 3.67 and a beta of 0.57. Cincinnati Financial Corporation has a 52 week low of $143.37 and a 52 week high of $174.27. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the company posted ($0.24) EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Cincinnati Financial Corporation will post 8.61 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.50%.

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.