TD Asset Management Inc. decreased its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 533,863 shares of the insurance provider’s stock after selling 44,166 shares during the period. TD Asset Management Inc.’s holdings in Cincinnati Financial Corporation were worth $38,678,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CINF. Korea Investment CORP raised its position in Cincinnati Financial Corporation by 142.0% in the second quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock valued at $105,000 after buying an additional 852 shares in the last quarter. Clarius Group LLC purchased a new position in Cincinnati Financial Corporation during the first quarter valued at approximately $130,000. MCF Advisors LLC raised its position in Cincinnati Financial Corporation by 2.4% in the first quarter. MCF Advisors LLC now owns 2,243 shares of the insurance provider’s stock valued at $162,000 after buying an additional 52 shares in the last quarter. First Manhattan Co. raised its position in Cincinnati Financial Corporation by 36.2% in the first quarter. First Manhattan Co. now owns 2,437 shares of the insurance provider’s stock valued at $183,000 after buying an additional 648 shares in the last quarter. Finally, First Heartland Consultants Inc. purchased a new position in Cincinnati Financial Corporation during the second quarter valued at approximately $210,000. Institutional investors and hedge funds own 63.03% of the company’s stock.
Cincinnati Financial Corporation (NASDAQ:CINF) opened at 80.33 on Thursday. Cincinnati Financial Corporation has a 12-month low of $68.11 and a 12-month high of $81.98. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of 23.02 and a beta of 0.89. The company has a 50-day moving average price of $74.34 and a 200-day moving average price of $72.25.
Cincinnati Financial Corporation (NASDAQ:CINF) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.18. Cincinnati Financial Corporation had a return on equity of 6.57% and a net margin of 10.33%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm earned $0.57 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Cincinnati Financial Corporation will post $2.90 earnings per share for the current year.
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Several research analysts have recently commented on the company. BidaskClub lowered Cincinnati Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Royal Bank Of Canada restated a “hold” rating and set a $72.00 price target on shares of Cincinnati Financial Corporation in a research report on Monday, May 22nd. Zacks Investment Research lowered Cincinnati Financial Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Finally, Keefe, Bruyette & Woods set a $70.00 price target on Cincinnati Financial Corporation and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $78.75.
Cincinnati Financial Corporation Company Profile
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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