Fifth Third Bancorp Sells 10,023 Shares of Cincinnati Financial Corporation $CINF

Fifth Third Bancorp cut its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 605,574 shares of the insurance provider’s stock after selling 10,023 shares during the quarter. Fifth Third Bancorp’s holdings in Cincinnati Financial were worth $112,116,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Motiv8 Investments LLC bought a new position in shares of Cincinnati Financial during the 4th quarter valued at $29,000. Cassaday & Co Wealth Management LLC bought a new stake in Cincinnati Financial in the first quarter worth $34,000. DV Equities LLC bought a new stake in Cincinnati Financial in the fourth quarter worth $36,000. Legacy Wealth Managment LLC ID lifted 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 worth $40,000 after purchasing an additional 108 shares during the last quarter. Finally, SHP Wealth Management purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $44,000. 65.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler raised their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings raised Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods dropped their target price 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. Roth Capital increased their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average price target of $195.40.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $173.17 on Friday. The firm has a market cap of $26.58 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 3.62 and a beta of 0.54. Cincinnati Financial Corporation has a 12-month low of $149.60 and a 12-month high of $194.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $177.61 and its two-hundred day simple moving average is $168.16.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter in the previous year, the firm posted $1.97 EPS. As a group, equities analysts expect that Cincinnati Financial Corporation will post 8.31 EPS for the current 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.