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

Fifth Third Bancorp boosted its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 4.4% in the first quarter, HoldingsChannel reports. The firm owned 615,597 shares of the insurance provider’s stock after acquiring an additional 25,724 shares during the period. Fifth Third Bancorp’s holdings in Cincinnati Financial were worth $96,864,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at approximately $25,000. Motiv8 Investments LLC acquired a new position in Cincinnati Financial during the fourth quarter valued at approximately $29,000. DV Equities LLC bought a new stake in Cincinnati Financial in the fourth quarter valued at approximately $36,000. Legacy Wealth Managment LLC ID increased its stake in Cincinnati Financial by 78.8% in the fourth 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 acquired a new stake in Cincinnati Financial in the fourth quarter worth $44,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CINF. Piper Sandler lifted their price target on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $201.00 price objective (up from $191.00) on shares of Cincinnati Financial in a research note on Wednesday. Roth Capital lifted their target price on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Finally, Bank of America lowered their price target on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $185.75.

Cincinnati Financial Stock Up 2.2%

CINF traded up $3.85 during trading on Friday, hitting $179.28. The company had a trading volume of 1,007,110 shares, compared to its average volume of 928,187. The company has a market capitalization of $27.73 billion, a PE ratio of 10.25, a PEG ratio of 3.87 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. Cincinnati Financial Corporation has a one year low of $143.87 and a one year high of $194.81. The firm’s 50-day moving average price is $170.27 and its 200 day moving average price is $165.54.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (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 analysts’ expectations 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 quarter in the prior year, the company earned ($0.24) EPS. As a group, equities analysts expect that Cincinnati Financial Corporation will post 8.7 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company 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 dividend of $0.94 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.

About Cincinnati Financial

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.