Cincinnati Financial (NASDAQ:CINF) Announces Earnings Results, Beats Estimates By $0.81 EPS

Key Points

• Cincinnati Financial beat quarterly estimates: EPS came in at $2.86, surpassing the $2.05 consensus by $0.81, while revenue of $3.05 billion also exceeded expectations.
• The stock rose 0.6% to $177.31 following the results. Cincinnati Financial also maintains a quarterly dividend of $0.94 per share, equivalent to a 2.1% annual yield.
• Analysts have a “Moderate Buy” consensus rating, with an average price target of $191.60, though ratings range from Buy to Hold.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) released its earnings results on Monday. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.81, FiscalAI reports. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.64 billion.

Cincinnati Financial Stock Up 0.6%

NASDAQ:CINF traded up $1.01 during midday trading on Monday, hitting $177.31. 775,644 shares of the company were exchanged, compared to its average volume of 725,966. Cincinnati Financial has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The company has a market capitalization of $27.21 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 2.97 and a beta of 0.52. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $168.31 and a 200 day simple moving average of $170.24.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio (DPR) is currently 17.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CINF shares. Piper Sandler boosted 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. Roth Capital lifted their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. Bank of America cut Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods dropped their price objective on Cincinnati Financial from $190.00 to $171.00 and set a "market perform" rating on the stock in a report on Monday, October 12th. One 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 stock. Based on data from MarketBeat, Cincinnati Financial currently has an average rating of "Moderate Buy" and an average price target of $191.60.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk Debbink acquired 1,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was bought at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the purchase, the director directly owned 62,059 shares of the company's stock, valued at approximately $10,651,806.76. The trade was a 1.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.94% of the stock is owned by corporate insiders.

About Cincinnati Financial

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.

The company's principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.