FY2017 EPS Estimates for Cincinnati Financial Corporation Boosted by Analyst (CINF)
Cincinnati Financial Corporation (NASDAQ:CINF) – Equities research analysts at Langen Mcalenn upped their FY2017 earnings per share (EPS) estimates for Cincinnati Financial Corporation in a note issued to investors on Wednesday. Langen Mcalenn analyst L. Greenberg now anticipates that the insurance provider will post earnings per share of $2.65 for the year, up from their previous forecast of $2.64.
Several other equities analysts have also weighed in on CINF. BidaskClub upgraded shares of Cincinnati Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Zacks Investment Research lowered shares of Cincinnati Financial Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $70.00 price objective on shares of Cincinnati Financial Corporation in a research report on Friday, August 18th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $79.25.
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Cincinnati Financial Corporation (CINF) opened at 76.57 on Friday. The firm’s 50-day moving average is $77.35 and its 200-day moving average is $73.28. Cincinnati Financial Corporation has a 12 month low of $68.11 and a 12 month high of $81.98. The firm has a market cap of $12.56 billion, a PE ratio of 21.94 and a beta of 0.89.
Cincinnati Financial Corporation (NASDAQ:CINF) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.18. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Cincinnati Financial Corporation had a net margin of 10.33% and a return on equity of 6.57%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share.
Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in Cincinnati Financial Corporation by 2.2% during the second quarter. JPMorgan Chase & Co. now owns 2,962,990 shares of the insurance provider’s stock valued at $214,669,000 after buying an additional 62,767 shares in the last quarter. Prudential Financial Inc. lifted its stake in Cincinnati Financial Corporation by 1.2% during the second quarter. Prudential Financial Inc. now owns 226,607 shares of the insurance provider’s stock valued at $16,418,000 after buying an additional 2,620 shares in the last quarter. Schulhoff & Co. Inc. lifted its stake in Cincinnati Financial Corporation by 0.3% during the second quarter. Schulhoff & Co. Inc. now owns 63,477 shares of the insurance provider’s stock valued at $4,598,000 after buying an additional 200 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Cincinnati Financial Corporation by 19.6% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 39,267 shares of the insurance provider’s stock valued at $2,845,000 after buying an additional 6,440 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in Cincinnati Financial Corporation by 15.1% during the first quarter. OppenheimerFunds Inc. now owns 10,677 shares of the insurance provider’s stock valued at $772,000 after buying an additional 1,399 shares in the last quarter. 63.10% of the stock is owned by institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, September 21st. Cincinnati Financial Corporation’s dividend payout ratio is presently 57.31%.
About Cincinnati Financial Corporation
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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