Amalgamated Bank Sells 2,171 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Amalgamated Bank lowered its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,709 shares of the insurance provider’s stock after selling 2,171 shares during the quarter. Amalgamated Bank’s holdings in Cincinnati Financial were worth $3,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Savant Capital LLC raised its stake in shares of Cincinnati Financial by 1.6% during the 4th quarter. Savant Capital LLC now owns 6,041 shares of the insurance provider’s stock worth $625,000 after acquiring an additional 96 shares in the last quarter. Octavia Wealth Advisors LLC lifted its holdings in shares of Cincinnati Financial by 0.9% during the 3rd quarter. Octavia Wealth Advisors LLC now owns 11,258 shares of the insurance provider’s stock valued at $1,160,000 after purchasing an additional 101 shares during the last quarter. Pinion Investment Advisors LLC boosted its position in shares of Cincinnati Financial by 2.9% in the 4th quarter. Pinion Investment Advisors LLC now owns 3,613 shares of the insurance provider’s stock worth $374,000 after purchasing an additional 101 shares in the last quarter. Belpointe Asset Management LLC grew its stake in Cincinnati Financial by 3.0% during the 3rd quarter. Belpointe Asset Management LLC now owns 3,568 shares of the insurance provider’s stock worth $365,000 after buying an additional 103 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Cincinnati Financial by 11.6% during the 4th quarter. UMB Bank n.a. now owns 1,004 shares of the insurance provider’s stock valued at $104,000 after buying an additional 104 shares in 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 the company. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Citigroup raised their price target on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Piper Sandler reissued a “neutral” rating and set a $116.00 price objective on shares of Cincinnati Financial in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Hold” and a consensus target price of $124.50.

Cincinnati Financial Price Performance

Shares of CINF opened at $117.44 on Thursday. The business’s 50-day moving average is $118.30 and its two-hundred day moving average is $109.90. The company has a market capitalization of $18.39 billion, a P/E ratio of 7.81, a P/E/G ratio of 2.50 and a beta of 0.63. Cincinnati Financial Co. has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.26 and a current ratio of 0.26.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company earned $0.89 earnings per share. Cincinnati Financial’s revenue for the quarter was up 31.0% compared to the same quarter last year. Research analysts predict that Cincinnati Financial Co. will post 6.37 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, June 18th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, June 14th. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average price of $113.47 per share, for a total transaction of $113,470.00. Following the purchase, the director now directly owns 53,988 shares in the company, valued at $6,126,018.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by insiders.

Cincinnati Financial Company 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.