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

Cincinnati Financial (NASDAQ:CINF) posted its quarterly earnings data on Thursday. The insurance provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.69 by $0.03, Briefing.com reports. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS.

Cincinnati Financial Stock Performance

Cincinnati Financial stock traded down $1.48 during mid-day trading on Thursday, reaching $118.44. 700,242 shares of the company traded hands, compared to its average volume of 859,621. 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 fifty-two week low of $95.01 and a fifty-two week high of $124.35. The company has a market capitalization of $18.55 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 2.44 and a beta of 0.63. The firm’s fifty day moving average is $117.61 and its two-hundred day moving average is $108.96.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.74%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. The ex-dividend date was Monday, March 18th. Cincinnati Financial’s payout ratio is 27.76%.

Analysts Set New Price Targets

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

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.