TD Asset Management Inc Sells 27,746 Shares of Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• TD Asset Management Inc reduced its stake in Cincinnati Financial Corporation by 14.7% in Q1, holding 161,107 shares valued at approximately $23.8 million after selling 27,746 shares.
• Cincinnati Financial posted a quarterly earnings per share of $1.97, significantly exceeding analyst estimates of $1.39, while its revenue reached $2.48 billion, despite missing the $2.80 billion forecast.
• The stock has a current consensus rating of "Moderate Buy" from analysts, with price targets ranging from $159.20 to $175.00, indicating positive sentiment towards its future performance.

TD Asset Management Inc cut its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 14.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,107 shares of the insurance provider's stock after selling 27,746 shares during the quarter. TD Asset Management Inc owned about 0.10% of Cincinnati Financial worth $23,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Spire Wealth Management boosted its holdings in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after acquiring an additional 76 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in Cincinnati Financial in the first quarter worth $30,000. GoalVest Advisory LLC boosted its holdings in Cincinnati Financial by 65.4% in the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after acquiring an additional 102 shares in the last quarter. Whipplewood Advisors LLC boosted its holdings in Cincinnati Financial by 333.3% in the first quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock worth $38,000 after acquiring an additional 200 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in Cincinnati Financial by 5,000.0% in the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock worth $38,000 after acquiring an additional 250 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF traded down $1.32 during midday trading on Friday, reaching $146.19. 694,649 shares of the company's stock traded hands, compared to its average volume of 705,926. Cincinnati Financial Corporation has a one year low of $123.01 and a one year high of $161.74. The stock has a 50 day moving average of $148.04 and a 200 day moving average of $142.89. 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 $22.86 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 7.89 and a beta of 0.76.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the company earned $1.29 earnings per share. Cincinnati Financial's revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd were paid a $0.87 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $3.48 annualized dividend and a dividend yield of 2.4%. Cincinnati Financial's dividend payout ratio (DPR) is 30.18%.

Analysts Set New Price Targets

Several research firms have commented on CINF. Wall Street Zen raised Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Roth Capital boosted their target price on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $150.00 to $167.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $159.20.

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.