Cincinnati Financial Co. (NASDAQ:CINF) Position trimmed by TD Asset Management Inc.
TD Asset Management Inc. decreased its holdings of Cincinnati Financial Co. (NASDAQ:CINF – Get Rating) stock by 5.9% in the 1st quarter, according to the company in its latest filing with the Securities and Exchange Commission. The institutional investor held 59,400 shares of the insurance provider after selling 3,732 shares during the period. TD Asset Management Inc.’s holdings in Cincinnati Financial were worth $8,076,000 when it was last filed with the Securities and Exchange Commission.
Other major investors have also recently changed their positions in the company. Covestor Ltd bought a new position in shares of Cincinnati Financial during the 4th quarter, valued at approximately $26,000. Hardy Reed LLC bought a new position in Cincinnati Financial stock during Q1 worth approximately $43,000. Tcwp LLC bought a new position in Cincinnati Financial stock during Q1 valued at around $57,000. Steward Partners Investment Advisory LLC increased its position in Cincinnati Financial shares by 327.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 474 shares of the insurance provider valued at $54,000 after buying 363 additional shares in the last quarter. Finally, Monetary Management Group Inc. bought a new position in Cincinnati Financial stock during Q4 valued at around $57,000. Institutional investors hold 66.34% of the company’s shares.
Insider Trading at Cincinnati Financial
Separately, director Thomas J. Aaron purchased 1,030 shares of Cincinnati Financial in a trade dated Wednesday, August 3. The shares were acquired at an average cost of $96.33 per share, with a total value of $99,219.90. Following completion of the transaction, the administrator now directly owns 5,740 shares of the company, valued at $552,934.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. In other Cincinnati Financial news, Director Dirk J. Debbink acquired 510 shares of the company in a deal that took place Friday, July 29. The shares were purchased at an average price of $96.66 per share, with a total value of $49,296.60. Following completion of the transaction, the administrator now owns 44,243 shares of the company, valued at $4,276,528.38. The acquisition was disclosed in an SEC filing, which is available at this link. Additionally, director Thomas J. Aaron acquired 1,030 shares of the company in a transaction that took place on Wednesday, August 3. The shares were acquired at an average cost of $96.33 per share, for a total transaction of $99,219.90. Following the transaction, the director now owns 5,740 shares of the company, valued at approximately $552,934.20. Disclosure of this purchase can be found here. 2.95% of the shares are held by insiders.
Analyst upgrades and downgrades
CINF has been the subject of several recent analyst reports. TheStreet upgraded Cincinnati Financial shares from a ‘b’ rating to a ‘c+’ rating in a Wednesday, July 27 report. StockNews.com upgraded Cincinnati Financial shares from a “hold” rating to a “sell” rating in a report released Tuesday.
Cincinnati Financial Stock Performance
CINF shares opened at $101.30 on Thursday. The company has a 50-day moving average of $109.33 and a two-hundred-day moving average of $121.56. The company has a debt ratio of 0.08, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $16.13 billion, a price-earnings ratio of 31.46 and a beta of 0.54. Cincinnati Financial Co. has a one-year low of $93.41 and a one-year high of $143.22.
Cincinnati Financial (NASDAQ:CINF – Get Rating) released its quarterly results for the last time on Wednesday, July 27. The insurance provider reported earnings per share (EPS) of $0.65 for the quarter, missing analyst consensus estimates of $1.05 per ($0.40). The company posted revenue of $820.00 million in the quarter, compared to analysts’ expectations of $1.96 billion. Cincinnati Financial had a return on equity of 7.45% and a net margin of 7.59%. Cincinnati Financial’s revenue for the quarter was down 64.3% from the same quarter last year. During the same period last year, the company earned earnings per share of $1.79. On average, equity research analysts expect Cincinnati Financial Co. to post earnings per share of 5.05 for the current year.
Cincinnati Financial announces dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Friday, September 16 will receive a dividend of $0.69. This represents a dividend of $2.76 on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Thursday, September 15. Cincinnati Financial’s dividend payout ratio (DPR) is 85.71%.
About Cincinnati Financial
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Cincinnati Financial Corporation, together with its subsidiaries, provides property and casualty insurance products in the United States. The Company operates through five segments: Commercial Insurance, Personal Insurance, Excess and Surplus Insurance, Life Insurance and Investments. The Commercial Lines Insurance segment provides coverage for commercial accident, commercial property, commercial automobile and workers’ compensation.
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