Cincinnati Financial (NASDAQ:CINF) Issues Quarterly Earnings Results
by Michael Walen · The Markets DailyCincinnati Financial (NASDAQ:CINF – Get Free Report) issued its earnings results 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. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion.
Cincinnati Financial Stock Up 0.8%
CINF stock traded up $1.42 during midday trading on Monday, hitting $184.23. The company’s stock had a trading volume of 852,540 shares, compared to its average volume of 782,813. The company’s fifty day moving average price is $173.56 and its 200 day moving average price is $166.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. Cincinnati Financial has a twelve month low of $143.87 and a twelve month high of $194.81. The stock has a market capitalization of $28.50 billion, a P/E ratio of 10.53, a PEG ratio of 3.74 and a beta of 0.54.
Cincinnati Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, June 23rd. Cincinnati Financial’s payout ratio is presently 21.50%.
Analysts Set New Price Targets
A number of analysts have recently commented on CINF shares. Roth Capital upped their price target on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Piper Sandler lifted their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $201.00 price objective (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Finally, Bank of America cut their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.40.
Get Our Latest Analysis on Cincinnati Financial
Hedge Funds Weigh In On Cincinnati Financial
Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $205,000. Compound Planning Inc. grew its stake in shares of Cincinnati Financial by 11.0% in the fourth quarter. Compound Planning Inc. now owns 2,147 shares of the insurance provider’s stock valued at $351,000 after buying an additional 212 shares in the last quarter. Claris Financial LLC acquired a new position in Cincinnati Financial during the fourth quarter worth $231,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Cincinnati Financial by 4.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 113,035 shares of the insurance provider’s stock worth $18,461,000 after purchasing an additional 4,703 shares during the last quarter. Finally, Summit Global Investments acquired a new position in shares of Cincinnati Financial during the 4th quarter worth about $462,000. Institutional investors own 65.24% of the company’s stock.
About Cincinnati Financial
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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