Cincinnati Financial (NASDAQ:CINF) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Cincinnati Financial (NASDAQ:CINF) issued its earnings results on Thursday. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.03, Briefing.com reports. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.13 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS.

Cincinnati Financial Stock Down 1.2 %

CINF stock traded down $1.48 during mid-day trading on Thursday, hitting $118.44. 700,281 shares of the company were exchanged, compared to its average volume of 859,621. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $18.55 billion, a P/E ratio of 10.28, a P/E/G ratio of 2.44 and a beta of 0.63. The firm’s 50 day simple moving average is $117.61 and its 200 day simple moving average is $108.96. Cincinnati Financial has a 1-year low of $95.01 and a 1-year high of $124.35.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th were issued a dividend of $0.81 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Monday, March 18th. Cincinnati Financial’s dividend payout ratio (DPR) is 27.76%.

Analyst Ratings Changes

Several research analysts have recently issued reports on CINF shares. TheStreet raised shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research note on Monday, April 1st. Finally, Citigroup raised their target price on shares of Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.57.

Cincinnati Financial Company Profile

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.