Cincinnati Financial (NASDAQ:CINF) Posts Quarterly Earnings Results

Cincinnati Financial (NASDAQ:CINF) posted its quarterly earnings results on Monday. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.41), FiscalAI reports. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF traded up $1.42 on Monday, hitting $184.23. The company’s stock had a trading volume of 853,779 shares, compared to its average volume of 784,908. The company has a 50-day simple moving average of $173.56 and a 200 day simple moving average of $166.60. Cincinnati Financial has a 1 year low of $143.87 and a 1 year high of $194.81. The company has a market capitalization of $28.50 billion, a PE ratio of 10.53, a PEG ratio of 3.74 and a beta of 0.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is currently 21.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Roth Capital upped their price target on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Bank of America cut their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Piper Sandler increased their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $192.40.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Motiv8 Investments LLC bought a new stake in Cincinnati Financial during the fourth quarter valued at approximately $29,000. DV Equities LLC bought a new position in shares of Cincinnati Financial in the 4th quarter worth $36,000. Parkside Financial Bank & Trust increased its holdings in shares of Cincinnati Financial by 67.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 317 shares of the insurance provider’s stock worth $52,000 after buying an additional 128 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Cincinnati Financial during the 2nd quarter valued at $69,000. Finally, Zions Bancorporation National Association UT raised its position in shares of Cincinnati Financial by 25.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 528 shares of the insurance provider’s stock valued at $86,000 after buying an additional 108 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.