Cincinnati Financial (NASDAQ:CINF) Posts Earnings Results, Misses Estimates By $0.39 EPS

Cincinnati Financial (NASDAQ:CINF) posted its quarterly earnings results on Monday. The insurance provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39), FiscalAI reports. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.During the same period in the previous year, the business earned $1.97 earnings per share.

Cincinnati Financial Price Performance

NASDAQ:CINF opened at $184.23 on Tuesday. The firm has a market capitalization of $28.50 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 3.74 and a beta of 0.54. Cincinnati Financial has a 52-week low of $143.87 and a 52-week high of $194.81. The stock has a fifty day moving average of $173.90 and a 200 day moving average of $166.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is 21.50%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a report on Wednesday, July 15th. Bank of America reduced their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Piper Sandler upped their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.40.

Hedge Funds Weigh In On Cincinnati Financial

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of Cincinnati Financial by 0.3% during the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock valued at $1,357,825,000 after acquiring an additional 26,475 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cincinnati Financial by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock worth $1,083,151,000 after purchasing an additional 97,761 shares during the last quarter. Bank of America Corp DE increased its position in shares of Cincinnati Financial by 4.2% in the second quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock worth $299,553,000 after purchasing an additional 80,487 shares during the last quarter. First Trust Advisors LP raised its stake in Cincinnati Financial by 38.5% in the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock valued at $215,562,000 after purchasing an additional 367,224 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after purchasing an additional 262,715 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.