Amalgamated Bank Grows Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Amalgamated Bank grew its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 30.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,132 shares of the insurance provider’s stock after buying an additional 9,854 shares during the period. Amalgamated Bank’s holdings in Cincinnati Financial were worth $4,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CINF. Assetmark Inc. raised its holdings in Cincinnati Financial by 252.2% during the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after buying an additional 174 shares during the period. Rothschild Investment LLC bought a new stake in shares of Cincinnati Financial in the 2nd quarter worth about $29,000. Raleigh Capital Management Inc. purchased a new position in shares of Cincinnati Financial during the 4th quarter worth about $31,000. Future Financial Wealth Managment LLC purchased a new position in shares of Cincinnati Financial during the 1st quarter worth about $47,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Cincinnati Financial during the 2nd quarter valued at about $49,000. 65.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CINF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Bank of America cut their price objective on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Roth Mkm lifted their target price on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $126.00 to $135.00 in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.57.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $134.63 on Friday. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 8.96, a P/E/G ratio of 2.60 and a beta of 0.66. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a twelve month low of $96.86 and a twelve month high of $139.34. The stock has a fifty day simple moving average of $130.65 and a two-hundred day simple moving average of $122.27.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the firm posted $1.21 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts predict that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.81 per share. The ex-dividend date is Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.41%. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

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.