Cincinnati Financial Corporation $CINF Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 57.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 599,134 shares of the insurance provider’s stock after selling 820,983 shares during the quarter. Fifth Third Bancorp’s holdings in Cincinnati Financial were worth $95,484,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. State Street Corp grew its position in shares of Cincinnati Financial by 225.5% in the 2nd quarter. State Street Corp now owns 26,974,052 shares of the insurance provider’s stock valued at $4,993,976,000 after purchasing an additional 18,686,673 shares during the period. Envestnet Asset Management Inc. raised its holdings in Cincinnati Financial by 1,474.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock worth $415,267,000 after buying an additional 2,100,563 shares during the period. First Trust Advisors LP raised its holdings in Cincinnati Financial by 59.4% during the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after buying an additional 784,584 shares during the period. Bank of America Corp DE bought a new position in Cincinnati Financial in the second quarter valued at approximately $347,891,000. Finally, Assenagon Asset Management S.A. bought a new position in Cincinnati Financial in the third quarter valued at approximately $248,705,000. 65.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk Debbink bought 1,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were bought at an average cost of $171.64 per share, with a total value of $171,640.00. Following the acquisition, the director owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.94% of the stock is owned by corporate insiders.

Cincinnati Financial Price Performance

NASDAQ:CINF opened at $190.31 on Friday. The stock has a market capitalization of $29.21 billion, a PE ratio of 19.44, a P/E/G ratio of 3.01 and a beta of 0.48. Cincinnati Financial Corporation has a 1-year low of $153.40 and a 1-year high of $195.72. The firm has a fifty day simple moving average of $172.30 and a 200 day simple moving average of $169.36. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, October 26th. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.81. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.64 billion. Cincinnati Financial had a net margin of 20.07% and a return on equity of 9.48%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.85 earnings per share. On average, research analysts expect that Cincinnati Financial Corporation will post 9.21 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were paid a dividend of $0.94 per share. The ex-dividend date was Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.0%. Cincinnati Financial’s payout ratio is currently 22.05%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CINF shares. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Roth Capital boosted their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Cincinnati Financial in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.60.

Cincinnati Financial Profile

Cincinnati Financial Corporation is an insurance holding company founded in 1950 and headquartered in Fairfield, Ohio. Its principal subsidiary, The Cincinnati Insurance Company, provides property and casualty insurance to businesses and individuals. The company offers commercial and personal insurance through independent insurance agencies, along with specialty coverage for risks that may not fit standard insurance programs. Its other operations include life insurance, reinsurance and investment management.