TD Asset Management Inc cut its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 14.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 54,270 shares of the insurance provider’s stock after selling 8,813 shares during the quarter. TD Asset Management Inc’s holdings in Cincinnati Financial were worth $10,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of CINF. BIP Wealth LLC raised its position in Cincinnati Financial by 1.6% in the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock worth $720,000 after buying an additional 63 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Cincinnati Financial by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock valued at $2,616,000 after acquiring an additional 68 shares during the period. Triton Financial Group Inc boosted its holdings in shares of Cincinnati Financial by 0.7% during the 4th quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider’s stock valued at $1,718,000 after acquiring an additional 73 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in shares of Cincinnati Financial by 3.5% during the 4th quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider’s stock valued at $374,000 after acquiring an additional 77 shares during the last quarter. Finally, HUB Investment Partners LLC grew its stake in shares of Cincinnati Financial by 3.9% in the second quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider’s stock worth $303,000 after acquiring an additional 77 shares during the period. 65.24% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Piper Sandler lifted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Roth Capital boosted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. One equities 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $195.40.
Cincinnati Financial Trading Up 0.3%
Shares of Cincinnati Financial stock opened at $173.17 on Friday. Cincinnati Financial Corporation has a fifty-two week low of $149.60 and a fifty-two week high of $194.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $26.58 billion, a P/E ratio of 8.17, a P/E/G ratio of 3.61 and a beta of 0.54. The company has a fifty day moving average of $177.61 and a 200 day moving average of $168.16.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the business earned $1.97 earnings per share. On average, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.
Cincinnati Financial Company 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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