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

Fifth Third Bancorp cut its stake in Cincinnati Financial Co. (NASDAQ:CINF - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 592,961 shares of the insurance provider's stock after selling 7,241 shares during the period. Fifth Third Bancorp owned about 0.38% of Cincinnati Financial worth $87,592,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. GoalVest Advisory LLC increased its position in shares of Cincinnati Financial by 65.4% during the first quarter. GoalVest Advisory LLC now owns 258 shares of the insurance provider's stock worth $38,000 after purchasing an additional 102 shares in the last quarter. Whipplewood Advisors LLC grew its stake in Cincinnati Financial by 333.3% during the 1st quarter. Whipplewood Advisors LLC now owns 260 shares of the insurance provider's stock worth $38,000 after buying an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in Cincinnati Financial by 5,000.0% during the first quarter. Capital Advisors Ltd. LLC now owns 255 shares of the insurance provider's stock worth $38,000 after buying an additional 250 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Cincinnati Financial by 157.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 335 shares of the insurance provider's stock valued at $48,000 after acquiring an additional 205 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Cincinnati Financial in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 65.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CINF. Keefe, Bruyette & Woods cut their target price on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen upgraded shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and an average target price of $147.40.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock traded down $1.97 during trading hours on Friday, hitting $146.28. 172,846 shares of the company were exchanged, compared to its average volume of 660,416. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $142.24 and a 200-day moving average of $143.04. Cincinnati Financial Co. has a 1 year low of $111.92 and a 1 year high of $161.75. The stock has a market capitalization of $22.86 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 8.30 and a beta of 0.78.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.37. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. The company had revenue of $2.34 billion for the quarter, compared to analysts' expectations of $2.70 billion. During the same period in the previous year, the company posted $1.72 EPS. Cincinnati Financial's revenue was up 13.2% compared to the same quarter last year. As a group, analysts expect that Cincinnati Financial Co. will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 23rd will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $3.48 annualized dividend and a yield of 2.38%. Cincinnati Financial's dividend payout ratio is currently 37.95%.

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.