Cincinnati Financial Corporation $CINF Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its holdings in Cincinnati Financial Corporation by 1.7% during the second quarter, owning approximately 0.39% of the company valued at $89.8 million.
• Equities research analysts have raised price targets for Cincinnati Financial, with Keefe, Bruyette & Woods setting a new target of $168.00 and Roth Capital increasing theirs to $175.00.
• Cincinnati Financial announced a quarterly dividend of $0.87 to be paid on October 15th, representing an annualized yield of 2.3%.

Fifth Third Bancorp increased its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 602,963 shares of the insurance provider's stock after acquiring an additional 10,002 shares during the quarter. Fifth Third Bancorp owned approximately 0.39% of Cincinnati Financial worth $89,793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quintet Private Bank Europe S.A. acquired a new stake in shares of Cincinnati Financial in the second quarter valued at approximately $25,000. Spire Wealth Management increased its stake in shares of Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 76 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Cincinnati Financial in the first quarter valued at approximately $26,000. Alpine Bank Wealth Management acquired a new stake in shares of Cincinnati Financial in the first quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Cincinnati Financial in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CINF shares. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Roth Capital raised their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Cincinnati Financial presently has an average rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Trading Down 0.2%

Cincinnati Financial stock opened at $154.44 on Wednesday. The company has a 50 day moving average price of $152.26 and a 200 day moving average price of $146.64. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 7.57 and a beta of 0.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the business posted $1.29 EPS. The company's revenue was up 15.5% on a year-over-year basis. Research analysts forecast that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 22nd will be paid a $0.87 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.3%. Cincinnati Financial's dividend payout ratio (DPR) is currently 30.18%.

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.

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