Fifth Third Bancorp Sells 4,021 Shares of Cincinnati Financial Corporation $CINF

Fifth Third Bancorp lowered its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 598,942 shares of the insurance provider’s stock after selling 4,021 shares during the period. Fifth Third Bancorp owned about 0.38% of Cincinnati Financial worth $94,693,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. State of New Jersey Common Pension Fund D grew its position in Cincinnati Financial by 4.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 51,850 shares of the insurance provider’s stock valued at $8,197,000 after buying an additional 2,189 shares during the period. HighTower Advisors LLC boosted its stake in Cincinnati Financial by 1.1% in the third quarter. HighTower Advisors LLC now owns 145,358 shares of the insurance provider’s stock valued at $22,981,000 after acquiring an additional 1,572 shares during the last quarter. Aberdeen Group plc grew its position in shares of Cincinnati Financial by 0.8% during the 3rd quarter. Aberdeen Group plc now owns 108,698 shares of the insurance provider’s stock valued at $17,185,000 after acquiring an additional 865 shares during the period. CENTRAL TRUST Co increased its stake in shares of Cincinnati Financial by 7.7% during the 3rd quarter. CENTRAL TRUST Co now owns 4,332 shares of the insurance provider’s stock worth $685,000 after purchasing an additional 311 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Cincinnati Financial during the 3rd quarter worth approximately $92,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Performance

Shares of CINF opened at $162.77 on Monday. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $174.27. The stock’s 50-day simple moving average is $163.67 and its 200 day simple moving average is $159.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 3.65 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.51. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the business posted $3.14 earnings per share. The company’s revenue was up 21.8% on a year-over-year basis. Research analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be given a dividend of $0.94 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 22.94%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CINF. Piper Sandler increased their price objective on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Roth Mkm reaffirmed a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.33.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.