Toronto Dominion Bank Has $10.54 Million Position in Cincinnati Financial Co. (NASDAQ:CINF)

Toronto Dominion Bank increased its holdings in Cincinnati Financial Co. (NASDAQ:CINF) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 77,418 shares of the insurance provider’s stock after buying an additional 895 shares during the quarter. Toronto Dominion Bank’s holdings in Cincinnati Financial were worth $10,538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its stake in shares of Cincinnati Financial by 6.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,941 shares of the insurance provider’s stock valued at $402,000 after purchasing an additional 175 shares during the period. Brophy Wealth Management LLC bought a new stake in Cincinnati Financial in the third quarter valued at $257,000. M&T Bank Corp grew its position in Cincinnati Financial by 4.2% in the third quarter. M&T Bank Corp now owns 6,988 shares of the insurance provider’s stock valued at $951,000 after acquiring an additional 282 shares during the period. Barclays PLC raised its stake in Cincinnati Financial by 13.1% during the third quarter. Barclays PLC now owns 534,361 shares of the insurance provider’s stock worth $72,736,000 after acquiring an additional 61,801 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Cincinnati Financial by 5.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 341,425 shares of the insurance provider’s stock valued at $46,475,000 after purchasing an additional 18,068 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the transaction, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.83% of the stock is owned by corporate insiders.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $152.22 on Friday. The firm has a 50 day simple moving average of $147.25 and a 200 day simple moving average of $133.37. Cincinnati Financial Co. has a fifty-two week low of $100.31 and a fifty-two week high of $161.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $23.80 billion, a P/E ratio of 7.82, a P/E/G ratio of 2.89 and a beta of 0.69.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The company’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 EPS. Sell-side analysts predict that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Analyst Upgrades and Downgrades

CINF has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Piper Sandler raised their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

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.