Fifth Third Bancorp Trims Position in Cincinnati Financial Corporation $CINF

Key Points

• Fifth Third Bancorp reduced its Cincinnati Financial stake by 1.6% in the second quarter, selling 10,023 shares and retaining 605,574 shares valued at approximately $112.1 million. Institutional investors collectively own 65.24% of the insurer.
• Analyst sentiment remains positive but mixed, with Cincinnati Financial carrying a consensus “Moderate Buy” rating and an average price target of $195.40, above its reported $173.17 share price.
• Cincinnati Financial reported quarterly EPS of $1.43, missing the $1.82 consensus estimate, while revenue reached $4.27 billion versus expectations of $2.71 billion. Analysts project full-year EPS of approximately $8.31.

Fifth Third Bancorp cut its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 605,574 shares of the insurance provider's stock after selling 10,023 shares during the period. Fifth Third Bancorp owned 0.39% of Cincinnati Financial worth $112,116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Motiv8 Investments LLC purchased a new stake in Cincinnati Financial in the 4th quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Cincinnati Financial during the 1st quarter valued at $34,000. DV Equities LLC bought a new position in shares of Cincinnati Financial in the fourth quarter worth $36,000. Legacy Wealth Managment LLC ID increased its holdings in shares of Cincinnati Financial by 78.8% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider's stock worth $40,000 after purchasing an additional 108 shares during the period. Finally, SHP Wealth Management purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth $44,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Weiss Ratings upgraded Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, August 6th. Bank of America cut Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their price target for the company from $197.00 to $193.00 in a report on Thursday, July 30th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their price objective on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a report on Wednesday, August 5th. Finally, Roth Capital upped their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $195.40.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $173.17 on Friday. Cincinnati Financial Corporation has a 52-week low of $149.60 and a 52-week high of $194.81. The company has a fifty day moving average of $177.61 and a 200-day moving average of $168.16. The company has a market capitalization of $26.58 billion, a P/E ratio of 8.17, a P/E/G ratio of 3.62 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the company earned $1.97 EPS. As a group, equities research analysts predict that Cincinnati Financial Corporation will post 8.31 EPS for the current fiscal year.

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.

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