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

Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Friday, August 23rd, RTT News reports. Investors 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 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. 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 Up 0.5 %

Shares of NASDAQ:CINF opened at $135.82 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $21.22 billion, a P/E ratio of 9.04, a P/E/G ratio of 2.60 and a beta of 0.66. Cincinnati Financial has a 52-week low of $96.86 and a 52-week high of $139.34. The stock’s fifty day simple moving average is $128.98 and its 200-day simple moving average is $121.52.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. As a group, equities research analysts forecast that Cincinnati Financial will post 6.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CINF shares. Bank of America dropped their target price on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Roth Mkm lifted their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.