Cincinnati Financial Corporation (NASDAQ:CINF) Plans Quarterly Dividend of $0.94

Key Points

• Cincinnati Financial declared a quarterly dividend of $0.94 per share, payable October 15 to shareholders of record on September 23. The dividend represents $3.76 annually and a 2.2% yield.
• The company has increased its dividend for 65 consecutive years, with a 46.0% payout ratio and an expected future payout ratio of 42.1%, indicating continued earnings coverage.
• Cincinnati Financial reported quarterly EPS of $1.43, missing analyst estimates of $1.82, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $195.40.

Cincinnati Financial Corporation (NASDAQ:CINF - Get Free Report) declared a quarterly dividend on Friday, August 21st. Shareholders of record on Wednesday, September 23rd will be given a dividend of 0.94 per share by the insurance provider on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd.

Cincinnati Financial has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 65 years. Cincinnati Financial has a dividend payout ratio of 46.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cincinnati Financial to earn $8.94 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 42.1%.

Cincinnati Financial Price Performance

Shares of CINF opened at $169.00 on Monday. The firm has a market cap of $25.94 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 3.54 and a beta of 0.53. The company's fifty day moving average is $174.37 and its two-hundred day moving average is $169.41. Cincinnati Financial has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same quarter in the previous year, the company earned $1.97 earnings per share. Analysts forecast that Cincinnati Financial will post 8.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

CINF has been the subject of several research analyst reports. Keefe, Bruyette & Woods dropped their price target on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating for the company in a research note on Wednesday, August 5th. Bank of America lowered Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Weiss Ratings upgraded Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, September 10th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Piper Sandler raised their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Cincinnati Financial presently has a consensus rating of "Moderate Buy" and an average price target of $195.40.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers' compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.

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