Cincinnati Financial Corporation $CINF Shares Sold by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp cut its Cincinnati Financial stake by 57.8% in the third quarter, selling 820,983 shares and retaining 599,134 shares valued at about $95.5 million.
• Cincinnati Financial reported quarterly EPS of $2.86, beating the $2.05 consensus estimate, while revenue of $3.05 billion rose 4.8% year over year.
• The company’s quarterly dividend was $0.94 per share, equivalent to $3.76 annually and a 2.0% yield at the article’s cited share price.

Fifth Third Bancorp lessened its stake in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 57.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 599,134 shares of the insurance provider's stock after selling 820,983 shares during the quarter. Fifth Third Bancorp owned about 0.39% of Cincinnati Financial worth $95,484,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Maryland State Retirement & Pension System lifted its holdings in Cincinnati Financial by 11.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 9,325 shares of the insurance provider's stock worth $1,486,000 after buying an additional 930 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Cincinnati Financial during the third quarter worth $233,000. First Command Advisory Services Inc. raised its position in shares of Cincinnati Financial by 315.9% during the third quarter. First Command Advisory Services Inc. now owns 811 shares of the insurance provider's stock worth $130,000 after acquiring an additional 616 shares during the last quarter. Lido Advisors LLC lifted its stake in shares of Cincinnati Financial by 11.0% during the third quarter. Lido Advisors LLC now owns 9,341 shares of the insurance provider's stock valued at $1,489,000 after acquiring an additional 926 shares during the period. Finally, Narwhal Capital Management lifted its stake in shares of Cincinnati Financial by 0.5% during the third quarter. Narwhal Capital Management now owns 50,018 shares of the insurance provider's stock valued at $7,971,000 after acquiring an additional 268 shares during the period. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Trading Up 0.3%

NASDAQ CINF opened at $190.31 on Friday. The stock has a 50-day simple moving average of $172.30 and a 200 day simple moving average of $169.36. The company has a market capitalization of $29.21 billion, a PE ratio of 19.44, a P/E/G ratio of 3.01 and a beta of 0.48. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.05. Cincinnati Financial Corporation has a 12 month low of $153.40 and a 12 month high of $195.72.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, October 26th. The insurance provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.81. Cincinnati Financial had a return on equity of 9.48% and a net margin of 20.07%. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the firm posted $2.85 earnings per share. The company's quarterly revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Cincinnati Financial Corporation will post 9.21 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.0%. Cincinnati Financial's dividend payout ratio (DPR) is presently 22.05%.

Analyst Ratings Changes

A number of analysts recently commented on CINF shares. Bank of America lowered Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Roth Capital upped their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Weiss Ratings lowered shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday, October 8th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating on shares of Cincinnati Financial in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Cincinnati Financial has an average rating of "Moderate Buy" and an average target price of $191.60.

Insiders Place Their Bets

In other news, Director Dirk Debbink acquired 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.94% of the stock is owned by insiders.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals. The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.

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