Cincinnati Financial (NASDAQ:CINF) Releases Quarterly Earnings Results, Beats Estimates By $0.33 EPS

Cincinnati Financial (NASDAQ:CINF) announced its quarterly earnings data on Thursday. The insurance provider reported $1.29 EPS for the quarter, beating the consensus estimate of $0.96 by $0.33, Briefing.com reports. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.21 billion. Cincinnati Financial had a return on equity of 9.29% and a net margin of 20.20%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.21 EPS.

Cincinnati Financial Trading Up 3.0 %

NASDAQ CINF traded up $3.66 on Friday, hitting $123.96. The company’s stock had a trading volume of 889,459 shares, compared to its average volume of 752,759. Cincinnati Financial has a 52-week low of $96.86 and a 52-week high of $128.23. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07. The company’s 50-day simple moving average is $117.67 and its 200 day simple moving average is $116.13. The firm has a market cap of $19.41 billion, a P/E ratio of 8.25, a PEG ratio of 2.61 and a beta of 0.65.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.56%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CINF shares. Roth Mkm increased their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. Citigroup upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $126.00 to $135.00 in a report on Friday, June 28th. Piper Sandler restated a “neutral” rating and set a $116.00 target price on shares of Cincinnati Financial in a report on Monday, April 1st. Bank of America increased their target price on Cincinnati Financial from $143.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.57.

Insiders Place Their Bets

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was acquired at an average price of $113.47 per share, for a total transaction of $113,470.00. Following the acquisition, the director now owns 53,988 shares in the company, valued at approximately $6,126,018.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.83% of the company’s stock.

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.