Cincinnati Financial Co. (CINF) to Issue Quarterly Dividend of $0.81 on January 15th

Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Friday, November 15th,RTT News reports. Shareholders 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 annualized dividend and a yield of 2.13%.

Cincinnati Financial has raised 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 dividend payout ratio of 44.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cincinnati Financial to earn $7.19 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 Trading Up 1.5 %

NASDAQ:CINF opened at $151.78 on Friday. The company has a 50-day moving average price of $139.54 and a 200-day moving average price of $128.23. Cincinnati Financial has a 12 month low of $99.61 and a 12 month high of $152.30. 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 has a market cap of $23.73 billion, a price-to-earnings ratio of 7.80, a P/E/G ratio of 2.89 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the business posted $1.66 earnings per share. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities analysts predict that Cincinnati Financial will post 6.32 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.