Cincinnati Financial Corporation (CINF) To Go Ex-Dividend on June 23rd

Cincinnati Financial Corporation (NASDAQ:CINF) declared a quarterly dividend on Saturday, May 2nd. Shareholders of record on Tuesday, June 23rd will be given a dividend of 0.94 per share by the insurance provider on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, June 23rd.

Cincinnati Financial has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 65 consecutive years. Cincinnati Financial has a payout ratio of 46.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cincinnati Financial to earn $9.03 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 41.6%.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $170.25 on Friday. The firm has a fifty day simple moving average of $164.76 and a two-hundred day simple moving average of $163.60. Cincinnati Financial has a 52 week low of $143.37 and a 52 week high of $174.27. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $26.34 billion, a P/E ratio of 9.73, a PEG ratio of 3.70 and a beta of 0.57.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.17. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.24) EPS. On average, analysts expect that Cincinnati Financial will post 8.61 earnings per share for the current fiscal year.

Institutional Trading of Cincinnati Financial

A number of hedge funds have recently added to or reduced their stakes in CINF. Norges Bank purchased a new position in Cincinnati Financial in the fourth quarter valued at about $270,892,000. First Trust Advisors LP raised its holdings in Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after purchasing an additional 784,584 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Cincinnati Financial by 193.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock valued at $98,161,000 after buying an additional 396,086 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after buying an additional 262,715 shares in the last quarter. Finally, Korea Investment CORP boosted its holdings in shares of Cincinnati Financial by 210.0% in the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after buying an additional 199,437 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.