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

Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Monday, May 6th, RTT News reports. Shareholders of record on Tuesday, June 18th will be given a dividend of 0.81 per share by the insurance provider on Monday, July 15th. This represents a $3.24 dividend on an annualized basis and a yield of 2.76%.

Cincinnati Financial has raised its dividend payment by an average of 7.7% annually over the last three years and has increased its dividend every year for the last 64 years. Cincinnati Financial has a dividend payout ratio of 46.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cincinnati Financial to earn $6.91 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 46.9%.

Cincinnati Financial Trading Up 0.4 %

Shares of CINF traded up $0.44 on Monday, reaching $117.38. 38,331 shares of the company’s stock were exchanged, compared to its average volume of 875,501. The business has a 50 day moving average price of $118.12 and a two-hundred day moving average price of $109.65. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07. Cincinnati Financial has a 12 month low of $95.01 and a 12 month high of $124.35. The stock has a market capitalization of $18.38 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 2.50 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.13 billion. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. Research analysts anticipate that Cincinnati Financial will post 6.37 earnings per share for the current year.

Insider Activity at Cincinnati Financial

In other news, Director Dirk J. Debbink acquired 1,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were purchased at an average cost of $113.47 per share, with a total value of $113,470.00. Following the acquisition, the director now directly owns 53,988 shares of the company’s stock, valued at $6,126,018.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CINF. Citigroup increased their price objective on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Piper Sandler reissued a “neutral” rating and issued a $116.00 price objective on shares of Cincinnati Financial in a report on Monday, April 1st. TheStreet upgraded shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $124.50.

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.