Cincinnati Financial (NASDAQ:CINF) Announces Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Cincinnati Financial (NASDAQ:CINF) announced its earnings results on Monday. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51, FiscalAI reports. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the firm posted $3.14 EPS. Cincinnati Financial’s revenue was up 21.8% compared to the same quarter last year.

Cincinnati Financial Trading Down 2.3%

Shares of NASDAQ CINF opened at $168.70 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06. Cincinnati Financial has a one year low of $123.01 and a one year high of $174.27. The business has a 50-day moving average price of $163.62 and a two-hundred day moving average price of $159.18. The firm has a market capitalization of $26.32 billion, a PE ratio of 12.55, a PEG ratio of 3.89 and a beta of 0.66.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 annualized dividend and a yield of 2.2%. Cincinnati Financial’s payout ratio is presently 25.89%.

Institutional Trading of Cincinnati Financial

Several hedge funds and other institutional investors have recently modified their holdings of CINF. MUFG Securities EMEA plc acquired a new stake in Cincinnati Financial during the second quarter valued at $69,000. Federated Hermes Inc. purchased a new stake in shares of Cincinnati Financial during the 2nd quarter worth about $101,000. State of Wyoming acquired a new stake in shares of Cincinnati Financial during the 2nd quarter valued at about $186,000. Teza Capital Management LLC bought a new stake in shares of Cincinnati Financial in the 2nd quarter valued at approximately $215,000. Finally, Bison Wealth LLC bought a new stake in shares of Cincinnati Financial in the 4th quarter valued at approximately $210,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CINF. Weiss Ratings restated a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday. Roth Mkm reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Finally, Piper Sandler raised their target price on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.33.

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.