Bank of Nova Scotia Has $3.42 Million Position in Cincinnati Financial Corporation $CINF

Bank of Nova Scotia lessened its holdings in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 51.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,728 shares of the insurance provider's stock after selling 23,406 shares during the quarter. Bank of Nova Scotia's holdings in Cincinnati Financial were worth $3,419,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Triton Financial Group Inc boosted its position 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 in the last quarter. Essex Financial Services Inc. raised its position in Cincinnati Financial by 3.5% in the fourth quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider's stock worth $374,000 after purchasing an additional 77 shares in the last quarter. HUB Investment Partners LLC lifted its stake in Cincinnati Financial by 3.9% during the second quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider's stock worth $303,000 after purchasing an additional 77 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in Cincinnati Financial by 1.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 4,363 shares of the insurance provider's stock valued at $669,000 after purchasing an additional 77 shares in the last quarter. Finally, William B. Walkup & Associates Inc. boosted its holdings in Cincinnati Financial by 2.9% during the first quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider's stock valued at $428,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Trading Down 0.9%

CINF stock opened at $182.63 on Wednesday. The business has a fifty day moving average price of $174.19 and a 200 day moving average price of $166.89. Cincinnati Financial Corporation has a fifty-two week low of $143.87 and a fifty-two week high of $194.81. The stock has a market capitalization of $28.25 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 3.77 and a beta of 0.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a return on equity of 9.78% and a net margin of 23.84%.During the same period in the prior year, the firm posted $1.97 EPS. Analysts expect that Cincinnati Financial Corporation will post 8.76 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $3.76 annualized dividend and a yield of 2.1%. Cincinnati Financial's dividend payout ratio is 17.74%.

Wall Street Analysts Forecast Growth

CINF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research note on Wednesday, July 8th. Weiss Ratings upgraded Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, June 26th. Bank of America cut their price objective on Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $194.40.

About Cincinnati Financial

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.

Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Corporation (NASDAQ:CINF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.