Cincinnati Financial Corporation (NASDAQ:CINF) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 4,149,437 shares, an increase of 7.3% from the April 28th total of 3,866,707 shares. Based on an average daily volume of 629,812 shares, the days-to-cover ratio is presently 6.6 days.
Shares of Cincinnati Financial Corporation (NASDAQ CINF) traded down 0.55% on Tuesday, reaching $72.70. The company’s stock had a trading volume of 96,698 shares. The stock has a 50-day moving average of $70.55 and a 200 day moving average of $72.46. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 20.02 and a beta of 0.90. Cincinnati Financial Corporation has a 52 week low of $68.11 and a 52 week high of $79.60.
Cincinnati Financial Corporation (NASDAQ:CINF) last posted its quarterly earnings data on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.05. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.37 billion. Cincinnati Financial Corporation had a return on equity of 6.49% and a net margin of 10.77%. Cincinnati Financial Corporation’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. On average, analysts expect that Cincinnati Financial Corporation will post $2.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Wednesday, June 21st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.74%. Cincinnati Financial Corporation’s payout ratio is 55.10%.
In other Cincinnati Financial Corporation news, Director David P. Osborn purchased 1,925 shares of the stock in a transaction on Monday, May 8th. The stock was bought at an average price of $70.00 per share, for a total transaction of $134,750.00. Following the acquisition, the director now directly owns 21,542 shares of the company’s stock, valued at $1,507,940. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.25% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Achmea Investment Management B.V. purchased a new stake in shares of Cincinnati Financial Corporation during the first quarter worth approximately $1,827,000. Community Financial Services Group LLC boosted its stake in shares of Cincinnati Financial Corporation by 1.6% in the first quarter. Community Financial Services Group LLC now owns 26,950 shares of the insurance provider’s stock worth $1,947,000 after buying an additional 430 shares during the period. Bank of Nova Scotia boosted its stake in shares of Cincinnati Financial Corporation by 951.8% in the first quarter. Bank of Nova Scotia now owns 34,373 shares of the insurance provider’s stock worth $2,484,000 after buying an additional 31,105 shares during the period. Summit Global Investments boosted its stake in shares of Cincinnati Financial Corporation by 8.9% in the first quarter. Summit Global Investments now owns 73,565 shares of the insurance provider’s stock worth $5,317,000 after buying an additional 6,001 shares during the period. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Cincinnati Financial Corporation during the first quarter worth approximately $227,000. Institutional investors and hedge funds own 63.02% of the company’s stock.
CINF has been the topic of several recent research reports. Zacks Investment Research upgraded Cincinnati Financial Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Tuesday, March 14th. Royal Bank Of Canada restated a “hold” rating and set a $72.00 price objective on shares of Cincinnati Financial Corporation in a report on Monday, May 22nd. Keefe, Bruyette & Woods set a $70.00 price objective on Cincinnati Financial Corporation and gave the stock a “hold” rating in a report on Wednesday, March 22nd. Finally, BidaskClub upgraded Cincinnati Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $78.75.
Cincinnati Financial Corporation Company Profile
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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