Cincinnati Financial Corporation (NASDAQ:CINF) Declares $0.94 Quarterly Dividend
by Jessica Moore · The Cerbat GemCincinnati Financial Corporation (NASDAQ:CINF – Get Free Report) declared a quarterly dividend on Saturday, May 2nd. Shareholders of record on Tuesday, June 23rd will be given a dividend of 0.94 per share by the insurance provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 23rd.
Cincinnati Financial has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 65 years. Cincinnati Financial has a payout ratio of 46.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cincinnati Financial to earn $9.01 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 41.7%.
Cincinnati Financial Stock Down 1.5%
CINF traded down $2.48 on Monday, hitting $159.57. The company had a trading volume of 472,756 shares, compared to its average volume of 763,111. Cincinnati Financial has a 12-month low of $141.78 and a 12-month high of $174.27. The stock has a market capitalization of $24.68 billion, a price-to-earnings ratio of 9.12, a P/E/G ratio of 3.52 and a beta of 0.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a fifty day moving average price of $162.69 and a 200-day moving average price of $162.55.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last announced its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the company posted ($0.24) EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts predict that Cincinnati Financial will post 8.59 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Bank of America reduced their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Roth Mkm boosted their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $178.75.
Get Our Latest Stock Analysis on CINF
Cincinnati Financial Company Profile
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.