Cincinnati Financial (NASDAQ:CINF) Announces Earnings Results

Cincinnati Financial (NASDAQ:CINF) issued its earnings results on Monday. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.81, FiscalAI reports. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.

Cincinnati Financial Trading Up 0.6%

CINF traded up $1.01 during midday trading on Monday, hitting $177.31. 775,644 shares of the company were exchanged, compared to its average volume of 725,966. The firm has a market capitalization of $27.21 billion, a P/E ratio of 8.36, a P/E/G ratio of 2.97 and a beta of 0.52. Cincinnati Financial has a 1-year low of $150.00 and a 1-year high of $194.81. The firm’s 50 day moving average price is $168.31 and its 200-day moving average price is $170.24. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 23rd were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.1%. Cincinnati Financial’s payout ratio is presently 17.74%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods reduced their price target on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating on the stock in a report on Monday, October 12th. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Finally, Roth Capital boosted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.60.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk Debbink purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the purchase, the director owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.94% of the company’s stock.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.