Cincinnati Financial Co. to Post Q3 2024 Earnings of $1.30 Per Share, Zacks Research Forecasts (NASDAQ:CINF)

Cincinnati Financial Co. (NASDAQ:CINF) – Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for Cincinnati Financial in a report issued on Wednesday, March 27th. Zacks Research analyst T. De now expects that the insurance provider will post earnings per share of $1.30 for the quarter, up from their prior estimate of $1.29. The consensus estimate for Cincinnati Financial’s current full-year earnings is $6.18 per share. Zacks Research also issued estimates for Cincinnati Financial’s Q4 2024 earnings at $1.95 EPS, FY2024 earnings at $5.46 EPS, Q4 2025 earnings at $1.83 EPS and FY2025 earnings at $6.00 EPS.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.33. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 earnings per share.

A number of other research firms also recently issued reports on CINF. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $125.00 to $135.00 in a research note on Monday. Janney Montgomery Scott initiated coverage on Cincinnati Financial in a research note on Thursday, December 14th. They issued a “neutral” rating and a $110.00 price target on the stock. Finally, TheStreet upgraded shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial presently has an average rating of “Hold” and a consensus target price of $116.71.

Cincinnati Financial Stock Up 2.5 %

Cincinnati Financial stock opened at $123.29 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial has a 1-year low of $95.01 and a 1-year high of $123.36. The stock has a market cap of $19.31 billion, a PE ratio of 10.56, a P/E/G ratio of 1.30 and a beta of 0.62. The stock’s fifty day moving average is $113.54 and its two-hundred day moving average is $106.72.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, March 19th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.63%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, March 18th. Cincinnati Financial’s dividend payout ratio (DPR) is 27.76%.

Institutional Investors Weigh In On Cincinnati Financial

Several institutional investors and hedge funds have recently made changes to their positions in CINF. Norges Bank acquired a new stake in Cincinnati Financial in the fourth quarter worth $179,305,000. Los Angeles Capital Management LLC boosted its position in shares of Cincinnati Financial by 554.7% during the third quarter. Los Angeles Capital Management LLC now owns 1,109,299 shares of the insurance provider’s stock worth $113,470,000 after buying an additional 939,861 shares during the period. Osaic Holdings Inc. grew its holdings in Cincinnati Financial by 824.3% in the 2nd quarter. Osaic Holdings Inc. now owns 722,610 shares of the insurance provider’s stock worth $7,718,000 after buying an additional 644,430 shares in the last quarter. Select Equity Group L.P. increased its position in Cincinnati Financial by 294.9% in the 4th quarter. Select Equity Group L.P. now owns 589,409 shares of the insurance provider’s stock valued at $60,350,000 after acquiring an additional 440,158 shares during the period. Finally, State Street Corp raised its stake in Cincinnati Financial by 4.1% during the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock valued at $1,246,056,000 after acquiring an additional 360,552 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

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.