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

Amalgamated Bank grew its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,028 shares of the insurance provider’s stock after purchasing an additional 565 shares during the quarter. Amalgamated Bank’s holdings in Cincinnati Financial were worth $4,602,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CINF. Catalyst Capital Advisors LLC purchased a new position in Cincinnati Financial during the third quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cincinnati Financial during the 4th quarter valued at about $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Cincinnati Financial during the 3rd quarter worth about $28,000. Y.D. More Investments Ltd boosted its position in shares of Cincinnati Financial by 121.8% in the fourth quarter. Y.D. More Investments Ltd now owns 193 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 106 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in Cincinnati Financial in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CINF. Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Roth Mkm lifted their target price on Cincinnati Financial from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $144.55 on Friday. The firm has a fifty day moving average of $139.65 and a 200-day moving average of $141.08. Cincinnati Financial Co. has a 52-week low of $109.93 and a 52-week high of $161.74. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $22.60 billion, a P/E ratio of 9.96, a PEG ratio of 8.30 and a beta of 0.71.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. As a group, analysts predict that Cincinnati Financial Co. will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be issued a dividend of $0.87 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 23.97%.

Insider Buying and Selling

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $157.19 per share, with a total value of $157,190.00. Following the transaction, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.83% of the stock is currently owned by corporate insiders.

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.