Bank of Nova Scotia Has $2.50 Million Stock Holdings in Cincinnati Financial Corporation (NASDAQ:CINF)

Bank of Nova Scotia reduced its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 79.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,890 shares of the insurance provider's stock after selling 64,092 shares during the period. Bank of Nova Scotia's holdings in Cincinnati Financial were worth $2,495,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Spire Wealth Management boosted its holdings in shares of Cincinnati Financial by 77.6% in the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after buying an additional 76 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at about $26,000. Alpine Bank Wealth Management acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at about $30,000. Capital Advisors Ltd. LLC boosted its holdings in shares of Cincinnati Financial by 5,000.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock valued at $38,000 after buying an additional 250 shares during the period. Finally, GoalVest Advisory LLC boosted its holdings in shares of Cincinnati Financial by 65.4% in the 1st quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock valued at $38,000 after buying an additional 102 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

Cincinnati Financial Trading Down 0.9%

Shares of NASDAQ:CINF traded down $1.34 during mid-day trading on Friday, hitting $150.13. The stock had a trading volume of 510,570 shares, compared to its average volume of 620,386. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $23.48 billion, a PE ratio of 13.02, a P/E/G ratio of 7.51 and a beta of 0.70. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $161.74. The company's 50 day moving average is $148.30 and its 200-day moving average is $143.28.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.39 by $0.58. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. On average, sell-side analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Analyst Upgrades and Downgrades

CINF has been the subject of several research reports. Roth Capital lifted their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Cincinnati Financial currently has an average rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.