Cincinnati Financial Co. (NASDAQ:CINF) to Issue $0.81 Quarterly Dividend

Cincinnati Financial Co. (NASDAQ:CINF - Get Free Report) announced a quarterly dividend on Monday, May 6th, RTT News reports. Stockholders of record on Tuesday, June 18th will be paid a dividend of 0.81 per share by the insurance provider on Monday, July 15th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.76%.

Cincinnati Financial has raised its dividend payment by an average of 7.7% annually over the last three years and has raised its dividend annually for the last 64 consecutive years. Cincinnati Financial has a payout ratio of 46.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cincinnati Financial to earn $6.91 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 46.9%.

Cincinnati Financial Stock Performance

NASDAQ:CINF traded up $0.44 during trading hours on Monday, reaching $117.38. The company had a trading volume of 378,703 shares, compared to its average volume of 879,632. Cincinnati Financial has a 1-year low of $95.01 and a 1-year high of $124.35. The firm has a market cap of $18.38 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 2.50 and a beta of 0.63. The business's 50 day moving average price is $118.12 and its 200-day moving average price is $109.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.03. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. Cincinnati Financial's revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. Research analysts forecast that Cincinnati Financial will post 6.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CINF shares. Piper Sandler restated a "neutral" rating and issued a $116.00 price objective on shares of Cincinnati Financial in a research report on Monday, April 1st. TheStreet upgraded Cincinnati Financial from a "c+" rating to a "b" rating in a report on Tuesday, February 6th. BMO Capital Markets raised Cincinnati Financial from a "market perform" rating to an "outperform" rating and upped their price target for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Citigroup upped their price target on Cincinnati Financial from $120.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Cincinnati Financial currently has an average rating of "Hold" and an average target price of $124.50.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction on Monday, April 29th. The shares were bought at an average price of $113.47 per share, with a total value of $113,470.00. Following the transaction, the director now directly owns 53,988 shares of the company's stock, valued at $6,126,018.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is owned by corporate insiders.

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.