Cincinnati Financial (NASDAQ:CINF) Issues Earnings Results, Beats Expectations By $0.81 EPS

Cincinnati Financial (NASDAQ:CINF) released its quarterly earnings results on Monday. The insurance provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.05 by $0.81, FiscalAI reports. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.64 billion. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.85 EPS.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $180.11 on Wednesday. Cincinnati Financial has a 52 week low of $150.00 and a 52 week high of $194.81. The business’s fifty day moving average is $168.64 and its two-hundred day moving average is $167.89. The firm has a market cap of $27.64 billion, a P/E ratio of 10.56 and a beta of 0.52.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were paid a $0.94 dividend. The ex-dividend date was Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. Cincinnati Financial’s payout ratio is 22.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CINF shares. Roth Capital upped their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Piper Sandler increased their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their price target on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Finally, Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $197.00 to $193.00 in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Insiders Place Their Bets

In related news, Director Dirk Debbink acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the acquisition, the director owned 62,059 shares of the company’s stock, valued at $10,651,806.76. This trade represents a 1.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.94% of the company’s stock.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.