Cincinnati Financial Co. (CINF) Announces Quarterly Dividend of $0.56

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Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Thursday, January 31st, RTT News reports. Shareholders of record on Wednesday, March 20th will be given a dividend of 0.56 per share by the insurance provider on Monday, April 15th. This represents a $2.24 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Tuesday, March 19th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.53.

Cincinnati Financial has raised its dividend payment by an average of 4.7% per year over the last three years and has increased its dividend every year for the last 58 years. Cincinnati Financial has a payout ratio of 71.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cincinnati Financial to earn $3.58 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 62.6%.

Cincinnati Financial stock opened at $85.04 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of 25.39 and a beta of 0.68. Cincinnati Financial has a twelve month low of $66.33 and a twelve month high of $87.46.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Wednesday, February 6th. The insurance provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. The company had revenue of $710.00 million during the quarter, compared to analyst estimates of $1.47 billion. Cincinnati Financial had a return on equity of 6.86% and a net margin of 5.31%. Cincinnati Financial’s revenue was down 49.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. Analysts anticipate that Cincinnati Financial will post 3.48 earnings per share for the current fiscal year.

In other Cincinnati Financial news, Director Dirk J. Debbink purchased 351 shares of Cincinnati Financial stock in a transaction dated Friday, February 15th. The shares were acquired at an average cost of $85.48 per share, with a total value of $30,003.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.07% of the company’s stock.

A number of equities analysts have recently issued reports on the company. BidaskClub raised Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 5th. Zacks Investment Research downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. Finally, Credit Suisse Group raised Cincinnati Financial from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $75.00 to $90.00 in a research report on Wednesday, February 27th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Cincinnati Financial presently has a consensus rating of “Buy” and a consensus target price of $89.00.

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About Cincinnati Financial

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

Further Reading: Municipal Bonds

Dividend History for Cincinnati Financial (NASDAQ:CINF)

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