Amundi Purchases 102,456 Shares of Cincinnati Financial Corporation $CINF

Key Points

• Amundi increased its Cincinnati Financial stake by 32.2% in the first quarter, purchasing 102,456 additional shares for a total of 421,056 shares valued at approximately $66.3 million.
• Cincinnati Financial shares were trading at $177.68, up 1.7%, while institutional investors collectively owned 65.24% of the company.
• The insurer reported quarterly earnings of $1.43 per share, missing the $1.82 consensus estimate, though revenue of $4.27 billion exceeded analyst expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $197.60.

Amundi increased its position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 32.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 421,056 shares of the insurance provider's stock after buying an additional 102,456 shares during the period. Amundi owned 0.27% of Cincinnati Financial worth $66,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CINF. Motiv8 Investments LLC bought a new stake in Cincinnati Financial in the fourth quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Cincinnati Financial in the 1st quarter valued at $34,000. DV Equities LLC bought a new stake in Cincinnati Financial in the fourth quarter worth $36,000. Legacy Wealth Managment LLC ID boosted its holdings in Cincinnati Financial by 78.8% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider's stock worth $40,000 after purchasing an additional 108 shares in the last quarter. Finally, SHP Wealth Management acquired a new position in Cincinnati Financial during the fourth quarter worth $44,000. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Trading Up 1.7%

Shares of NASDAQ:CINF opened at $177.68 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.28 and a current ratio of 0.31. The stock's 50-day moving average is $174.77 and its 200-day moving average is $167.16. The company has a market cap of $27.27 billion, a P/E ratio of 8.38, a P/E/G ratio of 3.71 and a beta of 0.54. Cincinnati Financial Corporation has a 52-week low of $143.87 and a 52-week high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the firm posted $1.97 EPS. Equities research analysts predict that Cincinnati Financial Corporation will post 8.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CINF shares. Piper Sandler raised their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $201.00 price objective (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Bank of America downgraded Cincinnati Financial from a "buy" rating to a "neutral" rating and cut their price objective for the company from $197.00 to $193.00 in a research note on Thursday. Finally, Roth Capital boosted their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $197.60.

Cincinnati Financial Profile

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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