Auto-Owners Insurance 13F: Cuts CSCO Stake by $61M
Auto-Owners Insurance cut its holdings in Cisco Systems, Inc. significantly in a recent regulatory filing.
Reviewed by automated data checks against the source filing. How we make and check alerts
Auto-Owners Insurance sold 562,453 shares from its stake in Cisco Systems, Inc. ($CSCO), a 95.44% decrease, according to a 13F filing with the SEC dated October 15, 2026. It reported 26,863 shares worth $2.89 million at the end of the quarter.
Since the filing, $CSCO is down 2.2% to date (from the $109.85 close on Oct 15, 2026).
Find the original: Auto-Owners Insurance 13F filings on SEC EDGAR
CSCO
Cisco Systems, Inc.
Key Points
- Auto-Owners Insurance slashed its position in Cisco Systems, Inc. by 95.4%, selling 562,453 shares to leave a remaining stake of 26,863 shares valued at $2.89 million.
- Cisco trades recently around $107.67, sitting below its 50-day moving average of $111.89 and above its 200-day moving average of $99.40.
- Other large institutions adjusted their holdings as well, with Blackrock Inc. reducing its stake by 6,388,565 shares while Vanguard Capital Management added 999,530 shares.
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Auto-Owners Insurance made a major reduction to its investment in Cisco Systems, Inc. [CSCO], cutting its holdings by 95.4% during the period. The move was revealed in a Form 13F filing with the Securities and Exchange Commission on October 15, 2026. Because 13F reports look backward at previous quarters, the filing shows the fund's posture at that time and may not reflect its exact holdings today.
Inside Auto-Owners Insurance's Cisco Trade
Auto-Owners Insurance sold off 562,453 shares of Cisco Systems, bringing its total down to just 26,863 shares. The remaining stake carried a reported value of $2,891,265 at the time of the filing. This sharp decrease follows other recent portfolio adjustments by the fund, which also exited positions in companies like Flowserve and Union Pacific around the same reporting cycle.
Other Institutional Activity in Cisco Systems
Other large institutional investors shifted their positions in Cisco around the same time. Blackrock Inc. reduced its holdings by 6,388,565 shares, ending with 358,672,289 shares worth about $38,517,816,896. Vanguard Capital Management LLC grew its holdings by 999,530 shares, ending with 244,787,330 shares worth about $26,287,711,219. State Street Corporation added 3,562,074 shares, finishing with 197,153,062 shares valued at $21,172,267,207. Invesco Ltd. trimmed 1,494,594 shares, leaving 138,187,071 shares worth about $14,839,909,470. Finally, Vanguard Portfolio Management LLC boosted its stake by 1,461,322 shares to hold 119,309,850 shares valued at about $12,812,684,718.
Cisco Systems, Inc. Stock Down 5.3%
Cisco shares recently traded around $107.67 as of October 16, 2026. The stock sits below its 50-day moving average of $111.89, while remaining above its 200-day moving average of $99.40. Over the past year, shares have traded as low as $68.95 and as high as $130.37. The company carries a market capitalization of roughly $433.09 billion and a trailing price-to-earnings ratio of 32.99.
Recent Earnings
For its trailing twelve months, Cisco generated $63.32 billion in revenue with earnings of $3.33 per share. The company posted a net profit margin of 21.0% and a return on equity of 27.3%. Cisco's next quarterly earnings report is scheduled for release on November 12, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
11 analysts raised price targets.
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EPS & revenue
EPS met estimates. Revenue beat estimates by 2.7%.
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Profit surprise
EBITDA missed by 24 percent. Operating income missed by 58 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 upgrade, 11 target raises.
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Earnings quality
Gross margin down 1.9 points. Operating margin up 2.4 points. Positive free cash flow.
Earnings Call Summary
Cisco delivered record 15.8 billion dollar revenue in the quarter, up 10 percent year over year, with networking revenue surging 21 percent driven by AI infrastructure demand and campus switching upgrades. The company shipped its millionth Silicon One chip, unveiled its new 102.4 terabit G300 processor, and expects strong AI orders exceeding 5 billion dollars for the year, though security revenue declined 4 percent due to Splunk transition to cloud subscriptions. Strong product order growth of 18 percent, especially from hyperscalers up 65 percent, shows broad momentum despite gross margin compression from memory cost inflation.
Guidance Cisco guided for full-year revenue of about 61.5 billion dollars and earnings per share of 4.15 dollars, putting the company on track for its strongest year. The company also raised its AI infrastructure order target to over 5 billion dollars for fiscal 2026, expecting to recognize more than 3 billion dollars in AI revenue.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Dividend
Cisco pays an annual dividend yielding 1.53%, backed by a dividend payout ratio of 49.9%.
Insider Buying and Selling at Cisco Systems, Inc.
Company insiders made several stock sales prior to the filing. Officer Nichlas A. Fink sold 2,274 shares on September 8, 2026, at an average price of $109.36 for a total value of $248,685. Chief Financial Officer Mark Patterson sold 1,795 shares on September 11, 2026, at $108.87 per share, totaling $195,422. Officer Oliver Tuszik sold 680 shares on September 14, 2026, at $110.18 for $74,922. Officer Thimaya K. Subaiya sold 312 shares on the same date at $110.18, totaling $34,376.
Analysts Set New Price Targets
Wall Street firms have adjusted their views on Cisco as well. On August 13, 2026, UBS maintained its Buy rating and raised its price target from $132 to $138. HSBC downgraded the stock to Hold on August 14, 2026, lowering its target from $137 to $120. Deutsche Bank initiated coverage with a Buy rating and a $135 price target on September 1, 2026. Piper Sandler maintained a Neutral rating on September 22, 2026, reducing its target from $132 to $125. Bernstein initiated coverage with a Market Perform rating and a $110 target on September 30, 2026. Across 25 analyst opinions, Cisco holds a consensus Buy recommendation with a mean price target of $136.16.
About Cisco Systems, Inc.
Headquartered in San Jose, California, Cisco designs and sells networking and communication equipment that helps power and secure internet infrastructure worldwide. Institutional shifts like Auto-Owners Insurance scaling back its stake draw attention to how major portfolio managers rebalance large-cap technology holdings.
Bottom Line
Auto-Owners Insurance's steep cut leaves it with a minor holding in Cisco. Observers will look toward the upcoming earnings release on November 12, 2026, for further insight into the company's financial health and future growth. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.
Related Filing Alerts
Source: Auto-Owners Insurance's 13F filing on $CSCO (Oct 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Auto-Owners Insurance 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts