Amundi Has $95.07 Million Stock Position in Cincinnati Financial Corporation $CINF

Key Points

• Amundi increased its Cincinnati Financial position by 22% in the second quarter, purchasing 92,453 additional shares. Its stake totaled 513,509 shares worth approximately $95.07 million, while institutional investors collectively owned 65.24% of the company.
• Analyst sentiment remains positive overall, with Cincinnati Financial receiving a consensus “Moderate Buy” rating and an average price target of $195.40, despite some analysts lowering targets or maintaining neutral ratings.
• Cincinnati Financial declared a quarterly dividend of $0.94 per share, equivalent to $3.76 annually and a 2.2% yield. The company’s latest quarterly EPS of $1.43 fell short of the $1.82 consensus estimate.

Amundi grew its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 22.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 513,509 shares of the insurance provider's stock after buying an additional 92,453 shares during the quarter. Amundi owned approximately 0.33% of Cincinnati Financial worth $95,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CINF. Keating Financial Advisory Services Inc. bought a new position in shares of Cincinnati Financial in the second quarter valued at approximately $27,000. Motiv8 Investments LLC acquired a new position in shares of Cincinnati Financial in the 4th quarter worth approximately $29,000. Covestor Ltd grew its position in Cincinnati Financial by 98.8% during the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock worth $31,000 after acquiring an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Cincinnati Financial during the 1st quarter worth approximately $34,000. Finally, DV Equities LLC acquired a new stake in Cincinnati Financial during the 4th quarter valued at $36,000. 65.24% of the stock is owned by institutional investors.

Insider Activity

In other Cincinnati Financial news, Director Dirk Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, August 25th. The shares were bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the purchase, the director owned 62,059 shares of the company's stock, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.94% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on CINF shares. Bank of America cut Cincinnati Financial from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Keefe, Bruyette & Woods reduced their price target on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 5th. Roth Capital increased their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Piper Sandler boosted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial has a consensus rating of "Moderate Buy" and an average price target of $195.40.

Cincinnati Financial Trading Up 0.0%

CINF stock opened at $169.21 on Thursday. The company has a market cap of $25.97 billion, a P/E ratio of 7.98, a PEG ratio of 3.54 and a beta of 0.53. Cincinnati Financial Corporation has a twelve month low of $150.00 and a twelve month high of $194.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $176.49 and a 200-day moving average of $169.09.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter in the prior year, the business earned $1.97 EPS. As a group, equities research analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial's dividend payout ratio is presently 17.74%.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers' compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.

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