Cincinnati Financial Co. (NASDAQ:CINF) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 2,350,000 shares, a growth of 14.1% from the May 30th total of 2,059,000 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 744,300 shares, the days-to-cover ratio is presently 3.2 days.
CINF has been the subject of several recent research reports. MKM Partners lifted their price objective on Warrior Met Coal to $38.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, Credit Suisse Group cut Advanced Disposal Services from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $29.00 to $33.00 in a research note on Friday, May 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $101.75.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Cincinnati Financial by 5.4% in the first quarter. JPMorgan Chase & Co. now owns 2,310,391 shares of the insurance provider’s stock valued at $198,462,000 after purchasing an additional 118,643 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cincinnati Financial by 10.3% in the fourth quarter. Geode Capital Management LLC now owns 2,228,263 shares of the insurance provider’s stock valued at $172,245,000 after purchasing an additional 208,449 shares during the period. Northern Trust Corp increased its holdings in shares of Cincinnati Financial by 2.2% in the first quarter. Northern Trust Corp now owns 1,955,668 shares of the insurance provider’s stock valued at $167,992,000 after purchasing an additional 41,268 shares during the period. Norges Bank acquired a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $107,863,000. Finally, First Trust Advisors LP increased its holdings in shares of Cincinnati Financial by 80.8% in the first quarter. First Trust Advisors LP now owns 1,102,521 shares of the insurance provider’s stock valued at $94,707,000 after purchasing an additional 492,556 shares during the period. 63.32% of the stock is currently owned by institutional investors.
CINF opened at $107.68 on Monday. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 32.14 and a beta of 0.67. Cincinnati Financial has a 52 week low of $69.05 and a 52 week high of $108.50. The stock’s 50 day moving average price is $103.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.29 and a current ratio of 0.29.
Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Wednesday, April 24th. The insurance provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $1.47 billion. Cincinnati Financial had a return on equity of 7.35% and a net margin of 15.97%. The firm’s revenue was up 76.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, sell-side analysts predict that Cincinnati Financial will post 3.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Wednesday, June 19th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is 66.87%.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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