Toronto Dominion Bank Has $9.04 Million Position in Cincinnati Financial Co. (NASDAQ:CINF)

Toronto Dominion Bank trimmed its stake in Cincinnati Financial Co. (NASDAQ:CINF) by 16.8% during the second quarter, HoldingsChannel.com reports. The fund owned 76,523 shares of the insurance provider’s stock after selling 15,475 shares during the quarter. Toronto Dominion Bank’s holdings in Cincinnati Financial were worth $9,037,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. iA Global Asset Management Inc. increased its holdings in shares of Cincinnati Financial by 4.3% in the second quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 95 shares in the last quarter. Argent Trust Co boosted its holdings in Cincinnati Financial by 5.0% during the second quarter. Argent Trust Co now owns 2,009 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 95 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Cincinnati Financial by 9.4% during the 4th quarter. Trust Co. of Vermont now owns 1,389 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 119 shares during the last quarter. Mayflower Financial Advisors LLC grew its holdings in Cincinnati Financial by 6.2% during the second quarter. Mayflower Financial Advisors LLC now owns 2,147 shares of the insurance provider’s stock worth $254,000 after purchasing an additional 126 shares during the period. Finally, Czech National Bank grew its stake in Cincinnati Financial by 0.5% in the 1st quarter. Czech National Bank now owns 27,624 shares of the insurance provider’s stock valued at $3,430,000 after buying an additional 143 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CINF shares. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Roth Mkm increased their price target on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Bank of America cut their price target on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Stock Up 0.5 %

CINF stock opened at $135.64 on Friday. Cincinnati Financial Co. has a fifty-two week low of $96.86 and a fifty-two week high of $139.34. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 2.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The business’s 50 day moving average price is $131.47 and its two-hundred day moving average price is $122.74.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, analysts forecast that Cincinnati Financial Co. will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.39%. Cincinnati Financial’s payout ratio is 21.56%.

Cincinnati Financial 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.