Cincinnati Financial Co. Declares Quarterly Dividend of $0.87 (NASDAQ:CINF)

Cincinnati Financial Co. (NASDAQ:CINF - Get Free Report) announced a quarterly dividend on Monday, May 5th, RTT News reports. Investors of record on Monday, June 23rd will be given a dividend of 0.87 per share by the insurance provider on Tuesday, July 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, June 23rd.

Cincinnati Financial has raised its dividend payment by an average of 8.7% per year over the last three years and has raised its dividend annually for the last 65 consecutive years. Cincinnati Financial has a dividend payout ratio of 42.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cincinnati Financial to earn $7.92 per share next year, which means the company should continue to be able to cover its $3.48 annual dividend with an expected future payout ratio of 43.9%.

Cincinnati Financial Price Performance

Shares of CINF stock traded up $0.33 on Wednesday, reaching $145.25. The company's stock had a trading volume of 519,873 shares, compared to its average volume of 661,884. The stock's 50 day simple moving average is $139.51 and its 200-day simple moving average is $142.66. The company has a market capitalization of $22.70 billion, a P/E ratio of 10.00, a PEG ratio of 8.30 and a beta of 0.73. Cincinnati Financial has a 12-month low of $111.92 and a 12-month high of $161.75. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The insurance provider reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.61) by $0.37. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. Cincinnati Financial's revenue was up 13.2% on a year-over-year basis. As a group, equities analysts predict that Cincinnati Financial will post 5.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on CINF shares. Roth Mkm boosted their price target on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods dropped their target price on shares of Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, StockNews.com raised shares of Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.40.

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.