Cincinnati Financial Co. (NASDAQ:CINF) Short Interest Update

17 Oct 2024, 22:52 by Mitch Edgeman · The Markets Daily

Cincinnati Financial Co. (NASDAQ:CINF – Get Free Report) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,110,000 shares, an increase of 9.9% from the September 15th total of 1,920,000 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 584,700 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CINF shares. Keefe, Bruyette & Woods raised their target price on shares of 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 upped their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, Roth Mkm increased their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.29.

View Our Latest Stock Report on Cincinnati Financial

Cincinnati Financial Price Performance

CINF stock traded up $3.08 during trading on Thursday, reaching $141.30. The company’s stock had a trading volume of 1,007,657 shares, compared to its average volume of 713,011. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average is $134.51 and its 200-day moving average is $124.35. The company has a market capitalization of $22.12 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. Cincinnati Financial has a 1 year low of $96.86 and a 1 year high of $141.83.

Cincinnati Financial (NASDAQ:CINF – Get Free Report) last released its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.33. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the business posted $1.21 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. On average, research analysts expect that Cincinnati Financial will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were given a dividend of $0.81 per share. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.29%. Cincinnati Financial’s dividend payout ratio is 21.56%.

Hedge Funds Weigh In On Cincinnati Financial

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after purchasing an additional 277,550 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after buying an additional 187,934 shares in the last quarter. Natixis bought a new stake in Cincinnati Financial in the 1st quarter worth approximately $22,053,000. Bahl & Gaynor Inc. raised its holdings in shares of Cincinnati Financial by 10.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after acquiring an additional 107,081 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Cincinnati Financial by 126.4% during the 2nd quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock valued at $21,259,000 after acquiring an additional 100,487 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

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