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

Cincinnati Financial Co. (NASDAQ:CINF - Get Free Report) announced a quarterly dividend on Friday, November 15th,RTT News reports. Stockholders of record on Thursday, December 19th will be given a dividend of 0.81 per share by the insurance provider on Wednesday, January 15th. This represents a $3.24 annualized dividend and a dividend yield of 2.15%.

Cincinnati Financial has raised its dividend payment by an average of 7.7% annually over the last three years and has raised its dividend annually for the last 64 consecutive years. Cincinnati Financial has a dividend payout ratio of 44.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cincinnati Financial to earn $7.18 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 Stock Up 0.8 %

Shares of CINF traded up $1.17 during trading hours on Friday, hitting $150.72. The stock had a trading volume of 133,910 shares, compared to its average volume of 697,888. The firm has a market capitalization of $23.56 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 2.86 and a beta of 0.65. Cincinnati Financial has a 1-year low of $99.61 and a 1-year high of $152.30. The firm has a 50 day simple moving average of $139.22 and a 200-day simple moving average of $127.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $1.46 by ($0.04). The company had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. Cincinnati Financial's quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm posted $1.66 earnings per share. Sell-side analysts predict that Cincinnati Financial will post 6.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CINF. Bank of America raised their target price on Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price objective 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. Roth Mkm raised their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Finally, Piper Sandler lifted their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.57.

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.

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