Cincinnati Financial Co. Announces Quarterly Dividend of $0.56 (NASDAQ:CINF)

Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Friday, August 9th, RTT News reports. Investors of record on Wednesday, September 18th will be paid a dividend of 0.56 per share by the insurance provider on Tuesday, October 15th. This represents a $2.24 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Tuesday, September 17th.

Cincinnati Financial has increased its dividend by an average of 4.7% annually over the last three years and has increased its dividend every year for the last 58 years. Cincinnati Financial has a payout ratio of 71.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cincinnati Financial to earn $3.72 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 60.2%.

Shares of Cincinnati Financial stock opened at $112.95 on Monday. The company has a market capitalization of $18.50 billion, a PE ratio of 33.72 and a beta of 0.64. Cincinnati Financial has a 12 month low of $71.01 and a 12 month high of $115.56. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $109.79 and its 200 day simple moving average is $98.92.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.21. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.51 billion. Cincinnati Financial had a return on equity of 7.17% and a net margin of 18.28%. The firm’s revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. Analysts predict that Cincinnati Financial will post 3.75 EPS for the current fiscal year.

Several analysts recently commented on the company. Buckingham Research raised their price objective on Cincinnati Financial from $92.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday. BidaskClub downgraded Cincinnati Financial from a “strong-buy” rating to a “buy” rating in a research note on Thursday. MKM Partners reaffirmed a “buy” rating and set a $120.00 price objective (up previously from $100.00) on shares of Cincinnati Financial in a research note on Friday, May 24th. Finally, Royal Bank of Canada raised their price objective on Cincinnati Financial to $105.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Cincinnati Financial currently has an average rating of “Buy” and a consensus price target of $106.40.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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Dividend History for Cincinnati Financial (NASDAQ:CINF)

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