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

Cincinnati Financial Co. (NASDAQ:CINF) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 1,920,000 shares, a drop of 10.3% from the August 31st total of 2,140,000 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily volume of 637,200 shares, the short-interest ratio is presently 3.0 days.

Cincinnati Financial Stock Performance

Cincinnati Financial stock traded up $0.68 during mid-day trading on Friday, reaching $135.64. The company’s stock had a trading volume of 364,625 shares, compared to its average volume of 728,795. The firm has a market cap of $21.24 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 2.65 and a beta of 0.66. The business has a 50 day moving average price of $131.77 and a 200-day moving average price of $122.90. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial has a twelve month low of $96.86 and a twelve month high of $139.34.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts predict that Cincinnati Financial will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is 21.56%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CINF shares. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $126.00 to $135.00 in a research report on Friday, June 28th. Bank of America decreased their target price on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Roth Mkm raised their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.57.

Institutional Investors Weigh In On Cincinnati Financial

Institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System lifted its holdings in Cincinnati Financial by 4.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock worth $23,367,000 after purchasing an additional 7,709 shares during the period. BNP Paribas Financial Markets raised its position in Cincinnati Financial by 40.6% in the first quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock worth $20,904,000 after acquiring an additional 48,597 shares in the last quarter. United Advisor Group LLC bought a new stake in Cincinnati Financial in the fourth quarter worth about $888,000. Vest Financial LLC raised its position in Cincinnati Financial by 14.0% in the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after acquiring an additional 46,530 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Cincinnati Financial by 77.3% in the first quarter. SG Americas Securities LLC now owns 42,896 shares of the insurance provider’s stock worth $5,326,000 after acquiring an additional 18,704 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Company Profile

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