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

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

Institutional Investors Weigh In On Cincinnati Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Verity & Verity LLC raised its holdings in shares of Cincinnati Financial by 4.9% in the second quarter. Verity & Verity LLC now owns 83,986 shares of the insurance provider’s stock valued at $9,919,000 after buying an additional 3,911 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Cincinnati Financial during the second quarter valued at approximately $3,795,000. Sanctuary Advisors LLC bought a new stake in shares of Cincinnati Financial during the second quarter valued at approximately $4,384,000. Aurora Investment Counsel increased its holdings in shares of Cincinnati Financial by 1.1% in the second quarter. Aurora Investment Counsel now owns 13,846 shares of the insurance provider’s stock valued at $1,635,000 after purchasing an additional 153 shares in the last quarter. Finally, Regal Investment Advisors LLC raised its position in Cincinnati Financial by 17.5% in the 2nd quarter. Regal Investment Advisors LLC now owns 36,947 shares of the insurance provider’s stock worth $4,363,000 after purchasing an additional 5,503 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF traded up $0.68 during midday trading on Friday, reaching $135.64. 364,625 shares of the company’s stock were exchanged, compared to its average volume of 728,795. The firm has a market capitalization of $21.24 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 2.65 and a beta of 0.66. The company’s 50 day simple moving average is $131.77 and its two-hundred day simple moving average is $122.90. Cincinnati Financial has a 12 month low of $96.86 and a 12 month high of $139.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27.

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

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.81 per share. The ex-dividend date is Tuesday, September 17th. This represents a $3.24 annualized dividend and a yield of 2.39%. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

Analysts Set New Price Targets

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

About Cincinnati Financial

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.