Cincinnati Financial Co. (NASDAQ:CINF) Sees Significant Decline in Short Interest

Cincinnati Financial Co. (NASDAQ:CINF) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,450,100 shares, a decline of 9.7% from the July 31st total of 2,712,500 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average trading volume of 730,800 shares, the short-interest ratio is presently 3.4 days.

Several analysts have weighed in on CINF shares. Credit Suisse Group raised shares of Cincinnati Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $90.00 to $110.00 in a research note on Friday, May 17th. Royal Bank of Canada boosted their price target on shares of Cincinnati Financial to $105.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. They noted that the move was a valuation call. BidaskClub downgraded shares of Cincinnati Financial from a “strong-buy” rating to a “buy” rating in a research note on Thursday. MKM Partners reaffirmed a “buy” rating and set a $120.00 price objective (up from $100.00) on shares of Cincinnati Financial in a research note on Friday, May 24th. Finally, Buckingham Research upped their price objective on shares of Cincinnati Financial from $92.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $106.40.

Shares of NASDAQ:CINF traded down $0.31 during midday trading on Friday, hitting $112.93. 52,988 shares of the stock traded hands, compared to its average volume of 533,511. The stock has a market capitalization of $18.26 billion, a PE ratio of 33.72 and a beta of 0.64. The business’s 50 day moving average is $109.67 and its two-hundred day moving average is $98.79. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.10. Cincinnati Financial has a one year low of $71.01 and a one year high of $115.56.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.64 by $0.21. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.51 billion. Cincinnati Financial had a net margin of 18.28% and a return on equity of 7.17%. The company’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 earnings per share. As a group, sell-side analysts forecast that Cincinnati Financial will post 3.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 18th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is 66.87%.

Large investors have recently modified their holdings of the company. Krane Funds Advisors LLC bought a new position in shares of Cincinnati Financial during the second quarter valued at about $25,000. Kavar Capital Partners LLC purchased a new position in shares of Cincinnati Financial during the second quarter valued at about $26,000. Virtus ETF Advisers LLC purchased a new position in shares of Cincinnati Financial during the second quarter valued at about $29,000. CSat Investment Advisory L.P. increased its position in shares of Cincinnati Financial by 42.3% during the second quarter. CSat Investment Advisory L.P. now owns 380 shares of the insurance provider’s stock valued at $39,000 after buying an additional 113 shares during the period. Finally, Hanson & Doremus Investment Management purchased a new position in shares of Cincinnati Financial during the second quarter valued at about $40,000. 63.94% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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