Cincinnati Financial Co. (NASDAQ:CINF) Declares Dividend Increase – $0.87 Per Share

Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Friday, January 31st,RTT News reports. Investors of record on Monday, March 24th will be paid a dividend of 0.87 per share by the insurance provider on Tuesday, April 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.54%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81.

Cincinnati Financial has raised its dividend by an average of 8.7% annually over the last three years and has raised its dividend annually for the last 26 consecutive years. Cincinnati Financial has a dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cincinnati Financial to earn $7.04 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 46.0%.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock traded down $1.99 during midday trading on Friday, hitting $137.05. 1,757,289 shares of the company traded hands, compared to its average volume of 686,524. Cincinnati Financial has a 12 month low of $104.78 and a 12 month high of $161.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $21.42 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 2.43 and a beta of 0.71. The firm’s fifty day moving average price is $146.39 and its 200-day moving average price is $139.44.

Insider Activity at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average price of $157.19 per share, for a total transaction of $157,190.00. Following the purchase, the director now owns 54,500 shares of the company’s stock, valued at $8,566,855. This trade represents a 1.87 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CINF shares. Piper Sandler boosted their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Bank of America boosted their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

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.