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

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

A number of other hedge funds have also recently modified their holdings of CINF. Norges Bank purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth about $223,959,000. GAMMA Investing LLC grew its holdings in Cincinnati Financial by 15,698.7% in the first quarter. GAMMA Investing LLC now owns 816,005 shares of the insurance provider's stock valued at $120,540,000 after purchasing an additional 810,840 shares during the period. Topsail Wealth Management LLC acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $47,114,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in Cincinnati Financial by 62.6% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 627,458 shares of the insurance provider's stock valued at $90,166,000 after purchasing an additional 241,540 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cincinnati Financial by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider's stock valued at $863,099,000 after purchasing an additional 224,033 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Keefe, Bruyette & Woods dropped their price objective on 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 raised Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $147.40.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF traded down $1.89 during midday trading on Friday, hitting $146.36. The stock had a trading volume of 440,848 shares, compared to its average volume of 661,907. The company has a market capitalization of $22.88 billion, a PE ratio of 10.08, a P/E/G ratio of 8.30 and a beta of 0.78. The stock has a 50 day simple moving average of $142.63 and a 200-day simple moving average of $142.83. Cincinnati Financial Co. has a 1 year low of $112.27 and a 1 year high of $161.75. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

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

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 23rd will be given a $0.87 dividend. The ex-dividend date is Monday, June 23rd. This represents a $3.48 annualized dividend and a dividend yield of 2.38%. Cincinnati Financial's dividend payout ratio (DPR) is presently 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.