Fifth Third Bancorp Has $96.86 Million Stock Position in Cincinnati Financial Corporation $CINF

Key Points

• Fifth Third Bancorp increased its stake in Cincinnati Financial by 4.4% in the first quarter, buying 25,724 additional shares and bringing its total holding to 615,597 shares worth about $96.9 million.
• Cincinnati Financial shares rose 2.2% to $179.28, near the upper end of its 52-week range, with the stock showing a market cap of $27.73 billion and a low beta of 0.54.
• The company beat quarterly expectations, reporting EPS of $2.10 versus $1.93 expected and revenue of $2.86 billion, while also announcing a $0.94 quarterly dividend payable July 15 for a 2.1% yield.

Fifth Third Bancorp boosted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 4.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 615,597 shares of the insurance provider's stock after purchasing an additional 25,724 shares during the period. Fifth Third Bancorp owned about 0.40% of Cincinnati Financial worth $96,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CINF. Lodestone Wealth Management LLC bought a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $25,000. Motiv8 Investments LLC bought a new stake in Cincinnati Financial during the 4th quarter worth approximately $29,000. DV Equities LLC bought a new stake in Cincinnati Financial during the 4th quarter worth approximately $36,000. Legacy Wealth Managment LLC ID increased its holdings in Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 108 shares in the last quarter. Finally, SHP Wealth Management bought a new position in Cincinnati Financial in the 4th quarter valued at $44,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Up 2.2%

Shares of CINF traded up $3.85 during trading hours on Friday, hitting $179.28. 1,007,110 shares of the stock traded hands, compared to its average volume of 928,187. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a 1-year low of $143.87 and a 1-year high of $194.81. The firm has a market capitalization of $27.73 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 3.87 and a beta of 0.54. The business has a fifty day moving average of $170.27 and a 200-day moving average of $165.54.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.17. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.61 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company's revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned ($0.24) earnings per share. Analysts expect that Cincinnati Financial Corporation will post 8.7 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial's dividend payout ratio is currently 21.50%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Keefe, Bruyette & Woods restated a "market perform" rating and set a $201.00 target price (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday. Roth Capital lifted their price target on Cincinnati Financial from $175.00 to $190.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, June 26th. Bank of America decreased their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Finally, Piper Sandler raised their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $185.75.

Cincinnati Financial Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.