Short Interest in Cincinnati Financial Co. (NASDAQ:CINF) Grows By 18.0%

Cincinnati Financial Co. (NASDAQ:CINF) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 2,560,000 shares, a growth of 18.0% from the February 13th total of 2,170,000 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average trading volume of 724,900 shares, the days-to-cover ratio is currently 3.5 days.

Cincinnati Financial Price Performance

CINF stock traded up $1.11 during midday trading on Wednesday, hitting $146.99. 179,314 shares of the stock were exchanged, compared to its average volume of 598,832. Cincinnati Financial has a fifty-two week low of $109.93 and a fifty-two week high of $161.75. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 8.30 and a beta of 0.66. The stock’s 50-day moving average price is $139.55 and its 200-day moving average price is $142.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. Research analysts predict that Cincinnati Financial will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 24th. Cincinnati Financial’s payout ratio is 23.97%.

Hedge Funds Weigh In On Cincinnati Financial

Institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its position in shares of Cincinnati Financial by 8.1% in the third quarter. CIBC Asset Management Inc now owns 22,744 shares of the insurance provider’s stock valued at $3,096,000 after purchasing an additional 1,712 shares during the period. Natixis Advisors LLC grew its position in shares of Cincinnati Financial by 16.0% in the third quarter. Natixis Advisors LLC now owns 96,462 shares of the insurance provider’s stock valued at $13,130,000 after purchasing an additional 13,334 shares during the period. Claro Advisors LLC purchased a new stake in shares of Cincinnati Financial in the third quarter valued at $239,000. Quest Partners LLC purchased a new stake in Cincinnati Financial in the third quarter valued at approximately $151,000. Finally, Meeder Advisory Services Inc. increased its position in Cincinnati Financial by 328.0% during the third quarter. Meeder Advisory Services Inc. now owns 12,111 shares of the insurance provider’s stock worth $1,649,000 after purchasing an additional 9,281 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CINF. Keefe, Bruyette & Woods raised their price objective on Cincinnati Financial from $180.00 to $182.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Roth Mkm lifted their price objective on Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.00.

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.