Cincinnati Financial (NASDAQ:CINF) Announces Quarterly Earnings Results

Cincinnati Financial (NASDAQ:CINFGet Free Report) announced its quarterly earnings data on Monday. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.41), FiscalAI reports. The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%.

Cincinnati Financial Price Performance

NASDAQ CINF traded up $1.42 during trading hours on Monday, reaching $184.23. 852,540 shares of the company’s stock were exchanged, compared to its average volume of 782,813. The firm has a fifty day moving average of $173.56 and a 200-day moving average of $166.60. Cincinnati Financial has a one year low of $143.87 and a one year high of $194.81. The stock has a market cap of $28.50 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 3.74 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. Cincinnati Financial’s dividend payout ratio is 21.50%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America lowered their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Piper Sandler increased their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Finally, Roth Capital increased their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.40.

Read Our Latest Stock Analysis on CINF

Institutional Trading of Cincinnati Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP lifted its holdings in Cincinnati Financial by 38.5% in the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock valued at $215,562,000 after buying an additional 367,224 shares during the period. Raymond James Financial Inc. boosted its stake in Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after acquiring an additional 262,715 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after acquiring an additional 173,343 shares during the period. Qube Research & Technologies Ltd grew its holdings in Cincinnati Financial by 3,892.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 145,890 shares of the insurance provider’s stock worth $23,065,000 after acquiring an additional 142,236 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Cincinnati Financial during the 3rd quarter valued at $22,243,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Company Profile

(Get Free Report)

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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Earnings History for Cincinnati Financial (NASDAQ:CINF)

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