Short Interest in Cincinnati Financial Co. (NASDAQ:CINF) Decreases By 17.7%

Cincinnati Financial Co. (NASDAQ:CINF) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,770,000 shares, a decrease of 17.7% from the October 15th total of 2,150,000 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average trading volume of 504,200 shares, the short-interest ratio is presently 3.5 days.

Cincinnati Financial Stock Performance

NASDAQ CINF traded up $2.23 on Friday, hitting $151.78. 760,217 shares of the stock were exchanged, compared to its average volume of 574,148. The business’s fifty day moving average is $139.54 and its 200 day moving average is $128.23. Cincinnati Financial has a 52 week low of $99.61 and a 52 week high of $152.30. The company has a market capitalization of $23.73 billion, a PE ratio of 7.80, a P/E/G ratio of 2.89 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 earnings per share. Research analysts anticipate that Cincinnati Financial will post 6.32 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 19th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.13%. Cincinnati Financial’s dividend payout ratio is 16.65%.

Analyst Ratings Changes

Several brokerages have recently commented on CINF. Bank of America boosted their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Piper Sandler upped their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Roth Mkm boosted their price target on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Institutional Investors Weigh In On Cincinnati Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its position in Cincinnati Financial by 2.1% during the third quarter. Brown Brothers Harriman & Co. now owns 3,378 shares of the insurance provider’s stock worth $460,000 after buying an additional 68 shares in the last quarter. Wealth Dimensions Group Ltd. lifted its holdings in shares of Cincinnati Financial by 0.9% in the third quarter. Wealth Dimensions Group Ltd. now owns 8,069 shares of the insurance provider’s stock worth $1,098,000 after acquiring an additional 75 shares during the last quarter. UMB Bank n.a. boosted its position in Cincinnati Financial by 7.4% in the third quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock valued at $155,000 after buying an additional 79 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 80 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Cincinnati Financial by 1.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock valued at $761,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

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.