Amalgamated Bank Sells 10,669 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Amalgamated Bank cut its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 25.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,463 shares of the insurance provider’s stock after selling 10,669 shares during the period. Amalgamated Bank’s holdings in Cincinnati Financial were worth $4,283,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CINF. UMB Bank n.a. increased its position in Cincinnati Financial by 7.4% during the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock worth $155,000 after purchasing an additional 79 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after buying an additional 80 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cincinnati Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after buying an additional 80 shares in the last quarter. Hartford Investment Management Co. lifted its stake in shares of Cincinnati Financial by 0.8% in the 3rd quarter. Hartford Investment Management Co. now owns 10,168 shares of the insurance provider’s stock valued at $1,384,000 after acquiring an additional 80 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Cincinnati Financial by 4.3% during the 2nd quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock valued at $271,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analyst Ratings Changes

CINF has been the subject of several research reports. Roth Mkm increased their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Bank of America lifted their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Piper Sandler raised their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Trading Up 1.1 %

NASDAQ:CINF opened at $148.69 on Friday. Cincinnati Financial Co. has a 52 week low of $98.65 and a 52 week high of $150.96. The firm’s fifty day moving average is $138.14 and its 200-day moving average is $126.96. The firm has a market cap of $23.24 billion, a P/E ratio of 7.64, a P/E/G ratio of 2.62 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.66 earnings per share. Equities analysts expect that Cincinnati Financial Co. will post 6.35 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Tuesday, September 17th. Cincinnati Financial’s payout ratio is 16.65%.

About Cincinnati Financial

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.