TD Asset Management Inc Sells 8,813 Shares of Cincinnati Financial Corporation $CINF

Key Points

• TD Asset Management reduced its Cincinnati Financial holdings by 14% in the second quarter, selling 8,813 shares and retaining 54,270 shares valued at approximately $10.05 million. Institutional investors collectively own 65.24% of the company.
• Analysts have a consensus “Moderate Buy” rating, with an average price target of $195.40; targets range from $190 to $200.
• Cincinnati Financial shares opened at $173.17, while the company’s latest quarterly earnings of $1.43 per share fell short of the $1.82 consensus estimate despite revenue of $4.27 billion.

TD Asset Management Inc reduced its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 14.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,270 shares of the insurance provider's stock after selling 8,813 shares during the period. TD Asset Management Inc's holdings in Cincinnati Financial were worth $10,048,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. BIP Wealth LLC grew its holdings in Cincinnati Financial by 1.6% in the second quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider's stock worth $720,000 after purchasing an additional 63 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Cincinnati Financial by 0.5% during the second quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider's stock valued at $2,616,000 after purchasing an additional 68 shares in the last quarter. Triton Financial Group Inc lifted its holdings in shares of Cincinnati Financial by 0.7% during the fourth quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider's stock valued at $1,718,000 after purchasing an additional 73 shares during the last quarter. Essex Financial Services Inc. lifted its holdings in shares of Cincinnati Financial by 3.5% during the fourth quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider's stock valued at $374,000 after purchasing an additional 77 shares during the last quarter. Finally, HUB Investment Partners LLC lifted its holdings in shares of Cincinnati Financial by 3.9% during the second quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider's stock valued at $303,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 65.24% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Roth Capital upped their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Piper Sandler lifted their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their target price on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial currently has a consensus rating of "Moderate Buy" and an average price target of $195.40.

Cincinnati Financial Stock Up 0.3%

Shares of Cincinnati Financial stock opened at $173.17 on Friday. 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 stock has a market capitalization of $26.58 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 3.61 and a beta of 0.54. Cincinnati Financial Corporation has a 52-week low of $149.60 and a 52-week high of $194.81. The company has a 50-day simple moving average of $177.61 and a two-hundred day simple 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 firm had revenue of $4.27 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter in the previous year, the company earned $1.97 EPS. On average, analysts anticipate that Cincinnati Financial Corporation will post 8.31 EPS 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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