Amalgamated Bank Sells 668 Shares of Cincinnati Financial Corporation $CINF
by Jessica Moore · The Cerbat GemAmalgamated Bank lessened its stake in Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,495 shares of the insurance provider’s stock after selling 668 shares during the period. Amalgamated Bank’s holdings in Cincinnati Financial were worth $4,690,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Bison Wealth LLC bought a new position in Cincinnati Financial during the fourth quarter worth about $210,000. Allspring Global Investments Holdings LLC lifted its stake in Cincinnati Financial by 11.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,842 shares of the insurance provider’s stock worth $1,156,000 after purchasing an additional 832 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Cincinnati Financial by 2.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,178 shares of the insurance provider’s stock worth $2,538,000 after purchasing an additional 440 shares during the period. Mutual Advisors LLC lifted its stake in Cincinnati Financial by 14.3% during the first quarter. Mutual Advisors LLC now owns 3,381 shares of the insurance provider’s stock worth $499,000 after purchasing an additional 424 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Cincinnati Financial by 6.3% during the first quarter. Principal Financial Group Inc. now owns 201,411 shares of the insurance provider’s stock worth $29,752,000 after purchasing an additional 11,964 shares during the period. Institutional investors own 65.24% of the company’s stock.
Cincinnati Financial Stock Performance
NASDAQ CINF opened at $154.59 on Friday. The firm has a market cap of $24.12 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 4.27 and a beta of 0.72. The company has a 50 day moving average of $156.03 and a 200-day moving average of $150.04. The company has a current ratio of 0.30, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $166.90.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.84. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $1.42 earnings per share. On average, equities analysts forecast that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.
Cincinnati Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were issued a $0.87 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 25.89%.
Analysts Set New Price Targets
A number of research analysts have commented on CINF shares. Roth Capital restated a “buy” rating and set a $175.00 price target on shares of Cincinnati Financial in a research note on Tuesday. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Buy” and a consensus price target of $167.67.
Read Our Latest Stock Analysis on CINF
Insider Buying and Selling at Cincinnati Financial
In related news, Director Dirk J. Debbink purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average price of $153.98 per share, with a total value of $153,980.00. Following the completion of the acquisition, the director directly owned 58,482 shares in the company, valued at approximately $9,005,058.36. This trade represents a 1.74% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is currently owned by corporate insiders.
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.
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