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

Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Friday, August 23rd, RTT News reports. Shareholders of record on Tuesday, September 17th will be given a dividend of 0.81 per share by the insurance provider on Tuesday, October 15th. This represents a $3.24 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Tuesday, September 17th.

Cincinnati Financial has increased its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend every year for the last 64 years. Cincinnati Financial has a payout ratio of 45.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NASDAQ CINF opened at $135.82 on Monday. The company has a fifty day moving average of $128.98 and a two-hundred day moving average of $121.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial has a 1 year low of $96.86 and a 1 year high of $139.34. The company has a market capitalization of $21.22 billion, a PE ratio of 9.04, a P/E/G ratio of 2.60 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.33. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.21 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. As a group, analysts expect that Cincinnati Financial will post 6.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CINF. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Bank of America lowered their price objective on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, Roth Mkm lifted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.57.

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.