Fifth Third Bancorp Decreases Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Fifth Third Bancorp decreased its stake in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 600,202 shares of the insurance provider’s stock after selling 3,330 shares during the quarter. Fifth Third Bancorp’s holdings in Cincinnati Financial were worth $86,249,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CINF. Charles Schwab Investment Management Inc. grew its holdings in Cincinnati Financial by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after acquiring an additional 1,218,919 shares in the last quarter. AQR Capital Management LLC increased its holdings in Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after buying an additional 277,550 shares during the last quarter. Boston Trust Walden Corp raised its stake in Cincinnati Financial by 2.6% in the third quarter. Boston Trust Walden Corp now owns 777,588 shares of the insurance provider’s stock valued at $105,845,000 after buying an additional 19,793 shares in the last quarter. Barclays PLC lifted its holdings in Cincinnati Financial by 13.1% during the 3rd quarter. Barclays PLC now owns 534,361 shares of the insurance provider’s stock worth $72,736,000 after buying an additional 61,801 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Cincinnati Financial by 23.3% in the 2nd quarter. Millennium Management LLC now owns 453,631 shares of the insurance provider’s stock valued at $53,574,000 after acquiring an additional 85,667 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Dirk J. Debbink bought 1,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the transaction, the director now 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. 2.83% of the stock is currently owned by corporate insiders.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $137.24 on Friday. The stock’s 50-day moving average price is $147.72 and its 200 day moving average price is $138.75. Cincinnati Financial Co. has a 52-week low of $104.78 and a 52-week high of $161.74. The stock has a market capitalization of $21.45 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Cincinnati Financial’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 earnings per share. As a group, equities research analysts forecast that Cincinnati Financial Co. will post 6.33 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.36%. Cincinnati Financial’s dividend payout ratio (DPR) is 16.65%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bank of America boosted their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler upped their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $143.33.

About Cincinnati Financial

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.