Cincinnati Financial (NASDAQ:CINF) Releases Quarterly Earnings Results, Beats Expectations By $0.58 EPS

Key Points

• Cincinnati Financial reported a quarterly earnings per share of $1.97, exceeding analysts' expectations of $1.36 by $0.61.
• The company announced a quarterly dividend of $0.87, resulting in an annualized dividend yield of 2.36%.
• Cincinnati Financial's stock was rated as "Moderate Buy" with an average price target of $155.25 according to MarketBeat.com.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) issued its quarterly earnings data on Monday. The insurance provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.58, Zacks reports. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 earnings per share.

Cincinnati Financial Stock Performance

Cincinnati Financial stock traded down $2.08 on Friday, reaching $145.43. 80,329 shares of the stock were exchanged, compared to its average volume of 701,391. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial has a twelve month low of $123.01 and a twelve month high of $161.74. The firm has a fifty day moving average price of $148.04 and a two-hundred day moving average price of $142.89. The stock has a market cap of $22.74 billion, a PE ratio of 12.60, a PEG ratio of 7.89 and a beta of 0.76.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 23rd were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a yield of 2.4%. Cincinnati Financial's payout ratio is currently 30.18%.

Institutional Investors Weigh In On Cincinnati Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bison Wealth LLC acquired a new stake in Cincinnati Financial in the 4th quarter valued at approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider's stock valued at $2,823,000 after purchasing an additional 525 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider's stock worth $83,889,000 after purchasing an additional 173,343 shares during the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CINF. Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $150.00 to $167.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Roth Capital increased their target price on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Wall Street Zen raised Cincinnati Financial from a "sell" rating to a "hold" rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $159.20.

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.