TD Asset Management Inc Lowers Holdings in Cincinnati Financial Corporation $CINF

Key Points

• TD Asset Management Inc reduced its holdings in Cincinnati Financial Corporation by 65.2% during the second quarter, owning 56,078 shares after selling 105,029 shares.
• Cincinnati Financial reported a second-quarter EPS of $1.97, exceeding analysts' expectations, despite revenues of $2.48 billion falling short of consensus estimates.
• The company declared a quarterly dividend of $0.87, resulting in an annualized payout of $3.48 and a yield of 2.3%.

TD Asset Management Inc lowered its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 65.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,078 shares of the insurance provider's stock after selling 105,029 shares during the quarter. TD Asset Management Inc's holdings in Cincinnati Financial were worth $8,351,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Cincinnati Financial by 0.5% during the first quarter. Vanguard Group Inc. now owns 19,255,478 shares of the insurance provider's stock valued at $2,844,419,000 after acquiring an additional 87,773 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cincinnati Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider's stock valued at $940,130,000 after acquiring an additional 358,018 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Cincinnati Financial by 2.2% during the first quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider's stock valued at $273,062,000 after acquiring an additional 40,222 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Cincinnati Financial during the first quarter valued at approximately $270,005,000. Finally, Bahl & Gaynor Inc. raised its holdings in shares of Cincinnati Financial by 4.4% during the first quarter. Bahl & Gaynor Inc. now owns 1,169,676 shares of the insurance provider's stock valued at $172,785,000 after acquiring an additional 49,593 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Cincinnati Financial Trading Up 1.1%

Shares of CINF opened at $153.02 on Monday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $166.90. The firm has a 50-day moving average price of $155.54 and a 200 day moving average price of $148.37. The firm has a market capitalization of $23.93 billion, a P/E ratio of 13.27, a P/E/G ratio of 7.16 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS 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 previous year, the business earned $1.29 earnings per share. The company's revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd were given a $0.87 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.3%. Cincinnati Financial's payout ratio is currently 30.18%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Roth Capital increased their target price on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cincinnati Financial in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Cincinnati Financial has a consensus rating of "Moderate Buy" and a consensus target price of $157.25.

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.

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