Cincinnati Financial (NASDAQ:CINF – Get Free Report) released its quarterly earnings results on Monday. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.81, FiscalAI reports. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.64 billion.
Cincinnati Financial Price Performance
CINF traded up $1.01 during trading on Monday, hitting $177.31. 776,965 shares of the company traded hands, compared to its average volume of 726,483. The company has a market cap of $27.21 billion, a PE ratio of 8.36, a P/E/G ratio of 2.97 and a beta of 0.52. The stock’s 50-day simple moving average is $168.31 and its two-hundred day simple moving average is $170.24. Cincinnati Financial has a 1 year low of $150.00 and a 1 year high of $194.81. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05.
Cincinnati Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were given a dividend of $0.94 per share. The ex-dividend date was Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. Cincinnati Financial’s dividend payout ratio is currently 17.74%.
Insider Transactions at Cincinnati Financial
In related news, Director Dirk Debbink purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were acquired at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the purchase, the director directly owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.94% of the company’s stock.
Analyst Ratings Changes
CINF has been the topic of several recent research reports. Piper Sandler raised their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their target price on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Finally, Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.60.
View Our Latest Stock Report on Cincinnati Financial
About Cincinnati Financial
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.
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