Cincinnati Financial (NASDAQ:CINF) Announces Earnings Results

Cincinnati Financial (NASDAQ:CINF) released its quarterly earnings results on Monday. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39), FiscalAI reports. Cincinnati Financial had a return on equity of 9.78% and a net margin of 23.84%.The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the prior year, the company earned $1.97 EPS.

Cincinnati Financial Stock Down 0.9%

NASDAQ:CINF opened at $182.63 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $28.25 billion, a price-to-earnings ratio of 8.61, a price-to-earnings-growth ratio of 3.77 and a beta of 0.54. Cincinnati Financial has a one year low of $143.87 and a one year high of $194.81. The stock has a 50-day simple moving average of $174.19 and a 200 day simple moving average of $166.89.

Cincinnati Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.1%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 17.74%.

Institutional Trading of Cincinnati Financial

Several institutional investors and hedge funds have recently bought and sold shares of CINF. State Street Corp grew its position in shares of Cincinnati Financial by 0.3% in the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock worth $1,357,825,000 after acquiring an additional 26,475 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cincinnati Financial by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock valued at $1,083,151,000 after acquiring an additional 97,761 shares in the last quarter. Bank of America Corp DE lifted its stake in Cincinnati Financial by 4.2% during the second quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock worth $299,553,000 after purchasing an additional 80,487 shares during the last quarter. First Trust Advisors LP lifted its stake in Cincinnati Financial by 38.5% during the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock worth $215,562,000 after purchasing an additional 367,224 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after purchasing an additional 262,715 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CINF. Roth Capital boosted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Piper Sandler lifted their price target 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. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.40.

About Cincinnati Financial

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.