Securian Asset Management Inc. Sells 1,393 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Securian Asset Management Inc. reduced its position in Fifth Third Bancorp (NASDAQ:FITB) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,038 shares of the financial services provider’s stock after selling 1,393 shares during the quarter. Securian Asset Management Inc.’s holdings in Fifth Third Bancorp were worth $1,524,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Boston Common Asset Management LLC increased its position in Fifth Third Bancorp by 12.4% during the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after purchasing an additional 34,203 shares in the last quarter. AMJ Financial Wealth Management increased its position in Fifth Third Bancorp by 4.2% during the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock worth $9,843,000 after purchasing an additional 9,401 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $9,878,000. Banco Santander S.A. acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $357,000. Finally, Smith Group Asset Management LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $423,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Down 2.7 %

Fifth Third Bancorp stock opened at $37.48 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07. The firm’s fifty day moving average is $42.91 and its 200 day moving average is $43.69. The company has a market capitalization of $25.04 billion, a PE ratio of 11.94, a PEG ratio of 1.42 and a beta of 1.21.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on FITB. Stephens reiterated an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. Citigroup boosted their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays boosted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.36.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.