10,068 Cincinnati Financial Corporation $CINF Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 5,034.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,268 shares of the insurance provider’s stock after purchasing an additional 10,068 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Cincinnati Financial were worth $1,636,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CINF. Keating Financial Advisory Services Inc. bought a new position in shares of Cincinnati Financial during the second quarter worth $27,000. Covestor Ltd grew its holdings in shares of Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock valued at $31,000 after buying an additional 83 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter valued at $34,000. Elevation Wealth Partners LLC increased its position in shares of Cincinnati Financial by 230.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 215 shares of the insurance provider’s stock valued at $34,000 after buying an additional 150 shares in the last quarter. Finally, GK Wealth Management LLC bought a new stake in shares of Cincinnati Financial in the 3rd quarter valued at $36,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Roth Capital raised their price objective 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 boosted their target price 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 target price on Cincinnati Financial in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their price target on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 12th. Finally, Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and an average target price of $191.60.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $173.63 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. Cincinnati Financial Corporation has a 52 week low of $150.00 and a 52 week high of $194.81. The company’s 50 day moving average price is $168.14 and its two-hundred day moving average price is $169.99. The company has a market capitalization of $26.65 billion, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 2.90 and a beta of 0.52.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period in the previous year, the firm posted $1.97 EPS. On average, analysts expect that Cincinnati Financial Corporation will post 8.44 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 17.74%.

Insider Activity at Cincinnati Financial

In related news, Director Dirk Debbink acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average cost of $171.64 per share, with a total value of $171,640.00. Following the transaction, the director owned 62,059 shares of the company’s stock, valued at $10,651,806.76. The trade was a 1.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.94% of the stock is currently owned by insiders.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.