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 - Free Report) by 25.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

Other hedge funds have also added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Cincinnati Financial by 1.1% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider's stock worth $178,845,000 after purchasing an additional 16,451 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider's stock worth $159,360,000 after purchasing an additional 187,934 shares during the period. Bahl & Gaynor Inc. lifted its position in shares of Cincinnati Financial by 10.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider's stock worth $131,739,000 after purchasing an additional 107,081 shares during the period. AQR Capital Management LLC lifted its position in shares of Cincinnati Financial by 39.4% in the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider's stock worth $115,758,000 after purchasing an additional 277,550 shares during the period. Finally, Boston Trust Walden Corp lifted its position in shares of Cincinnati Financial by 2.6% in the 3rd quarter. Boston Trust Walden Corp now owns 777,588 shares of the insurance provider's stock worth $105,845,000 after purchasing an additional 19,793 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Roth Mkm boosted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Finally, Bank of America boosted their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Cincinnati Financial presently has an average rating of "Moderate Buy" and a consensus target price of $138.57.

Cincinnati Financial Stock Up 1.1 %

CINF stock traded up $1.57 during midday trading on Friday, reaching $148.69. 412,717 shares of the company's stock traded hands, compared to its average volume of 615,388. The company has a market cap of $23.24 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 2.84 and a beta of 0.65. The firm's fifty day moving average price is $138.14 and its 200-day moving average price is $126.96. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. Cincinnati Financial Co. has a 52 week low of $98.65 and a 52 week high of $150.96.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company earned $1.66 EPS. The business's revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Cincinnati Financial Co. will post 6.35 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.18%. Cincinnati Financial's payout ratio is currently 16.65%.

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.