Cincinnati Financial Co. (NASDAQ:CINF) Raises Dividend to $0.87 Per Share

Cincinnati Financial Co. (NASDAQ:CINF) declared a quarterly dividend on Friday, January 31st,RTT News reports. Shareholders of record on Monday, March 24th will be paid a dividend of 0.87 per share by the insurance provider on Tuesday, April 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.54%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81.

Cincinnati Financial has increased its dividend payment by an average of 8.7% per year over the last three years and has raised its dividend every year for the last 26 years. Cincinnati Financial has a dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cincinnati Financial to earn $7.04 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 46.0%.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $137.05 on Friday. Cincinnati Financial has a fifty-two week low of $104.78 and a fifty-two week high of $161.74. The company’s 50-day moving average is $146.00 and its 200 day moving average is $139.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $21.42 billion, a P/E ratio of 7.04, a price-to-earnings-growth ratio of 2.43 and a beta of 0.71.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Piper Sandler increased their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.33.

Insider Activity at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average cost of $157.19 per share, with a total value of $157,190.00. Following the completion of the acquisition, the director now directly owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. The trade was a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.83% of the stock is owned by company insiders.

About Cincinnati Financial

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.