Cincinnati Financial (NASDAQ:CINF) Announces Earnings Results, Beats Estimates By $0.33 EPS

Cincinnati Financial (NASDAQ:CINF) released its quarterly earnings data on Thursday. The insurance provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33, Briefing.com reports. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.29%. Cincinnati Financial’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 EPS.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $123.96 on Friday. Cincinnati Financial has a 1 year low of $96.86 and a 1 year high of $128.23. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The company’s 50-day moving average is $117.67 and its 200 day moving average is $116.13. The stock has a market capitalization of $19.41 billion, a P/E ratio of 8.25, a P/E/G ratio of 2.61 and a beta of 0.65.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th were paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is 21.56%.

Analysts Set New Price Targets

CINF has been the subject of a number of recent analyst reports. Roth Mkm boosted their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $126.00 to $135.00 in a report on Friday, June 28th. Bank of America lifted their price objective on shares of Cincinnati Financial from $143.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $116.00 price objective on shares of Cincinnati Financial in a report on Monday, April 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.57.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Monday, April 29th. The shares were bought at an average price of $113.47 per share, for a total transaction of $113,470.00. Following the completion of the transaction, the director now directly owns 53,988 shares of the company’s stock, valued at $6,126,018.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.83% of the stock is owned by corporate insiders.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.