Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Friday, August 9th, RTT News reports. Investors of record on Wednesday, September 18th will be paid a dividend of 0.56 per share by the insurance provider on Tuesday, October 15th. This represents a $2.24 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Tuesday, September 17th.
Cincinnati Financial has increased its dividend payment by an average of 4.7% per year over the last three years and has raised its dividend every year for the last 58 years. Cincinnati Financial has a dividend payout ratio of 71.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cincinnati Financial to earn $3.72 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 60.2%.
Shares of CINF stock opened at $112.95 on Monday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.10. The stock has a market cap of $18.50 billion, a P/E ratio of 33.72 and a beta of 0.64. The stock has a 50 day simple moving average of $109.79 and a 200 day simple moving average of $98.92. Cincinnati Financial has a 1 year low of $71.01 and a 1 year high of $115.56.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.21. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Cincinnati Financial had a return on equity of 7.17% and a net margin of 18.28%. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. Analysts forecast that Cincinnati Financial will post 3.75 EPS for the current year.
CINF has been the subject of several research analyst reports. BidaskClub downgraded shares of Cincinnati Financial from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada boosted their price objective on shares of Cincinnati Financial to $105.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. They noted that the move was a valuation call. Buckingham Research boosted their price objective on shares of Cincinnati Financial from $92.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, MKM Partners restated a “buy” rating and set a $120.00 price objective (up from $100.00) on shares of Cincinnati Financial in a research report on Friday, May 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Cincinnati Financial currently has a consensus rating of “Buy” and a consensus target price of $106.40.
About Cincinnati Financial
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
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