Cincinnati Financial Co. (NASDAQ:CINF) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 5.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 37,709 shares of the insurance provider’s stock after selling 2,171 shares during the period. Amalgamated Bank’s holdings in Cincinnati Financial were worth $3,901,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CINF. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Cincinnati Financial during the 4th quarter worth $21,036,000. HHM Wealth Advisors LLC lifted its holdings in shares of Cincinnati Financial by 691.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 17,331 shares of the insurance provider’s stock valued at $1,793,000 after purchasing an additional 15,140 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Cincinnati Financial by 92.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 236,410 shares of the insurance provider’s stock worth $24,182,000 after buying an additional 113,653 shares during the last quarter. abrdn plc increased its position in Cincinnati Financial by 18.9% during the third quarter. abrdn plc now owns 46,897 shares of the insurance provider’s stock worth $4,797,000 after buying an additional 7,450 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in Cincinnati Financial by 163.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 63,647 shares of the insurance provider’s stock valued at $6,510,000 after buying an additional 39,464 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Dirk J. Debbink bought 1,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $113.47 per share, with a total value of $113,470.00. Following the completion of the acquisition, the director now owns 53,988 shares in the company, valued at approximately $6,126,018.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CINF has been the topic of a number of research reports. Citigroup raised their target price on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research 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 research report on Monday, April 1st. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Finally, BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $124.50.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $117.44 on Thursday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $118.30 and a 200 day moving average price of $109.90. Cincinnati Financial Co. has a 52 week low of $95.01 and a 52 week high of $124.35. The company has a market cap of $18.39 billion, a P/E ratio of 7.81, a PEG ratio of 2.50 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.89 earnings per share. Cincinnati Financial’s quarterly revenue was up 31.0% on a year-over-year basis. Research analysts predict that Cincinnati Financial Co. will post 6.37 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed 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 (DPR) is 21.56%.

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.