Cincinnati Financial Corporation (NASDAQ:CINF) Short Interest Down 21.2% in August

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) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 1,640,000 shares, a decrease of 21.2% from the August 15th total of 2,080,000 shares. Based on an average daily volume of 537,500 shares, the short-interest ratio is presently 3.1 days. Currently, 1.1% of the shares of the stock are sold short. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 537,500 shares, the short-interest ratio is presently 3.1 days.

Cincinnati Financial Price Performance

CINF stock traded up $0.18 during midday trading on Friday, reaching $156.11. 1,123,166 shares of the company's stock traded hands, compared to its average volume of 397,308. The company has a 50-day simple moving average of $151.98 and a two-hundred day simple moving average of $146.42. Cincinnati Financial has a 1-year low of $123.01 and a 1-year high of $161.74. The company has a market cap of $24.41 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 7.63 and a beta of 0.72. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

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

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 22nd will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, September 22nd. Cincinnati Financial's dividend payout ratio (DPR) is 30.18%.

Institutional Trading of Cincinnati Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. bought a new stake in Cincinnati Financial during the 2nd quarter worth about $25,000. Spire Wealth Management raised its holdings in Cincinnati Financial by 77.6% during the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after purchasing an additional 76 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Cincinnati Financial during the 1st quarter worth about $26,000. Alpine Bank Wealth Management bought a new stake in Cincinnati Financial during the 1st quarter worth about $30,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in Cincinnati Financial during the 1st quarter worth about $32,000. 65.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Roth Capital upped their price objective on Cincinnati Financial from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Four 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, the stock has an average rating of "Moderate Buy" and an average price target of $159.40.

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.