Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Monday, May 8th. Stockholders of record on Wednesday, June 21st will be paid a dividend of 0.50 per share by the insurance provider on Friday, July 14th. This represents a $2.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Monday, June 19th.
Cincinnati Financial has raised its dividend payment by an average of 5.0% annually over the last three years and has increased its dividend every year for the last 56 years. Cincinnati Financial has a payout ratio of 76.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Cincinnati Financial to earn $3.06 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 65.4%.
Shares of Cincinnati Financial (CINF) traded up 0.12% during midday trading on Wednesday, hitting $69.56. The stock had a trading volume of 627,487 shares. Cincinnati Financial has a one year low of $68.11 and a one year high of $79.60. The stock has a 50 day moving average of $70.26 and a 200-day moving average of $72.69. The company has a market cap of $11.46 billion, a P/E ratio of 19.16 and a beta of 0.81.
Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.05. Cincinnati Financial had a return on equity of 7.33% and a net margin of 10.85%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. Analysts forecast that Cincinnati Financial will post $2.80 EPS for the current fiscal year.
Several research analysts recently commented on the company. Keefe, Bruyette & Woods set a $70.00 price target on Cincinnati Financial and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Royal Bank of Canada reiterated a “hold” rating and issued a $72.00 price target on shares of Cincinnati Financial in a research note on Monday, May 22nd. MKM Partners reiterated a “buy” rating and issued a $90.00 price target on shares of Cincinnati Financial in a research note on Friday, February 10th. Finally, Zacks Investment Research cut Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 21st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $78.75.
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In other Cincinnati Financial news, Director David P. Osborn purchased 1,925 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average price of $70.00 per share, for a total transaction of $134,750.00. Following the completion of the purchase, the director now owns 21,542 shares in the company, valued at approximately $1,507,940. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 9.22% of the company’s stock.
About Cincinnati Financial
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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