Cincinnati Financial (NASDAQ:CINF) Releases Earnings Results

by · The Markets Daily

Cincinnati Financial (NASDAQ:CINF – Get Free Report) released its quarterly earnings data on Monday. The insurance provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.68, FiscalAI reports. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock traded down $3.95 on Monday, reaching $168.70. The stock had a trading volume of 797,359 shares, compared to its average volume of 674,073. The business’s 50 day moving average is $163.57 and its two-hundred day moving average is $159.03. The company has a market cap of $26.32 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 3.89 and a beta of 0.66. Cincinnati Financial has a 1 year low of $123.01 and a 1 year high of $174.27. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be given a dividend of $0.94 per share. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 25.89%.

Institutional Investors Weigh In On Cincinnati Financial

Several large investors have recently added to or reduced their stakes in CINF. CIBC Private Wealth Group LLC raised its holdings in Cincinnati Financial by 43.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,724 shares of the insurance provider’s stock worth $431,000 after purchasing an additional 827 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Cincinnati Financial in the 3rd quarter worth approximately $3,411,000. Danske Bank A S purchased a new position in Cincinnati Financial in the 3rd quarter worth about $22,243,000. Advisory Services Network LLC raised its stake in Cincinnati Financial by 4.4% during the 3rd quarter. Advisory Services Network LLC now owns 3,239 shares of the insurance provider’s stock valued at $512,000 after buying an additional 137 shares during the last quarter. Finally, Hancock Whitney Corp purchased a new stake in shares of Cincinnati Financial during the 3rd quarter valued at about $542,000. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Roth Mkm reaffirmed a “buy” rating and set a $175.00 price target on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Finally, Piper Sandler raised their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.33.

Read Our Latest Research Report on CINF

About Cincinnati Financial

(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.

See Also