Cincinnati Financial Corporation (NASDAQ:CINF) Short Interest Update

Key Points

• Cincinnati Financial Corporation's short interest decreased by 21.2% in August, with total short interest falling to 1,640,000 shares.
• The company reported $1.97 earnings per share in its last earnings announcement, surpassing estimates of $1.39, while revenue increased 15.5% from the previous year.
• Cincinnati Financial has declared a quarterly dividend of $0.87 per share, with a dividend yield of 2.3% and a payout ratio of 30.18%.

Cincinnati Financial Corporation (NASDAQ:CINF - Get Free Report) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 1,640,000 shares, a decline of 21.2% from the August 15th total of 2,080,000 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 537,500 shares, the short-interest ratio is presently 3.1 days. Based on an average trading volume of 537,500 shares, the short-interest ratio is presently 3.1 days. Currently, 1.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Cincinnati Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bison Wealth LLC purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth about $210,000. Toronto Dominion Bank grew its holdings in shares of Cincinnati Financial by 8.0% during the fourth quarter. Toronto Dominion Bank now owns 83,636 shares of the insurance provider's stock worth $12,018,000 after buying an additional 6,218 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth about $242,000. Tidal Investments LLC grew its holdings in shares of Cincinnati Financial by 61.6% during the fourth quarter. Tidal Investments LLC now owns 9,405 shares of the insurance provider's stock worth $1,351,000 after buying an additional 3,586 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Cincinnati Financial by 29.4% during the fourth quarter. Two Sigma Advisers LP now owns 2,200 shares of the insurance provider's stock worth $316,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CINF. Roth Capital lifted their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $159.40.

Cincinnati Financial Price Performance

CINF traded up $0.18 during midday trading on Friday, reaching $156.11. 1,123,166 shares of the company's stock were exchanged, compared to its average volume of 397,308. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $24.41 billion, a PE ratio of 13.54, a P/E/G ratio of 7.64 and a beta of 0.72. The business's 50-day moving average price is $151.98 and its 200 day moving average price is $146.44. Cincinnati Financial has a 1-year low of $123.01 and a 1-year high of $161.74.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. The company had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 earnings per share. As a group, equities analysts anticipate that Cincinnati Financial will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.87 per share. The ex-dividend date is Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial's payout ratio is presently 30.18%.

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.