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

Fifth Third Bancorp trimmed 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 600,202 shares of the insurance provider’s stock after selling 3,330 shares during the period. Fifth Third Bancorp owned about 0.38% of Cincinnati Financial worth $86,249,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in shares of Cincinnati Financial by 27.2% during the 2nd quarter. Pacer Advisors Inc. now owns 13,705 shares of the insurance provider’s stock valued at $1,619,000 after purchasing an additional 2,930 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Cincinnati Financial by 4.9% during the 2nd quarter. Sei Investments Co. now owns 39,907 shares of the insurance provider’s stock worth $4,713,000 after acquiring an additional 1,865 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Cincinnati Financial by 7.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 26,516 shares of the insurance provider’s stock valued at $3,132,000 after acquiring an additional 1,786 shares during the period. Bank of Montreal Can raised its holdings in Cincinnati Financial by 75.5% in the 2nd quarter. Bank of Montreal Can now owns 226,622 shares of the insurance provider’s stock worth $26,895,000 after purchasing an additional 97,484 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Cincinnati Financial by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,009 shares of the insurance provider’s stock worth $3,544,000 after purchasing an additional 11,276 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Cincinnati Financial Trading Up 0.9 %

Shares of Cincinnati Financial stock opened at $137.24 on Friday. 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 stock’s 50 day simple moving average is $147.72 and its 200-day simple moving average is $138.75. The stock has a market cap of $21.45 billion, a P/E ratio of 7.05, a P/E/G ratio of 2.42 and a beta of 0.71. Cincinnati Financial Co. has a 1-year low of $104.78 and a 1-year high of $161.74.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business earned $1.66 earnings per share. The firm’s revenue was up 21.5% compared to the same quarter last year. Analysts predict that Cincinnati Financial Co. will post 6.33 EPS for the current fiscal 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 issued a dividend of $0.81 per share. The ex-dividend date 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 is currently 16.65%.

Analysts Set New Price Targets

CINF has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Bank of America lifted their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

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.