Cincinnati Financial Co. Declares Quarterly Dividend of $0.81 (NASDAQ:CINF)

Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Friday, November 15th,RTT News reports. Stockholders of record on Thursday, December 19th will be paid a dividend of 0.81 per share by the insurance provider on Wednesday, January 15th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.15%.

Cincinnati Financial has increased its dividend by an average of 7.7% annually over the last three years and has raised its dividend every year for the last 64 years. Cincinnati Financial has a payout ratio of 44.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cincinnati Financial to earn $7.18 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 45.1%.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF traded up $1.17 on Friday, hitting $150.72. 133,910 shares of the company were exchanged, compared to its average volume of 697,888. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $139.22 and its 200 day moving average price is $127.88. Cincinnati Financial has a 1-year low of $99.61 and a 1-year high of $152.30. The firm has a market capitalization of $23.56 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 2.86 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Sell-side analysts predict that Cincinnati Financial will post 6.35 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on CINF. Bank of America boosted their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Roth Mkm raised their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Piper Sandler lifted their price target on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Company Profile

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.