Cincinnati Financial Co. (NASDAQ:CINF) Forecasted to Earn Q3 2024 Earnings of $1.30 Per Share

Cincinnati Financial Co. (NASDAQ:CINF) – Stock analysts at Zacks Research raised their Q3 2024 EPS estimates for shares of Cincinnati Financial in a report issued on Wednesday, March 27th. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings per share of $1.30 for the quarter, up from their previous estimate of $1.29. The consensus estimate for Cincinnati Financial’s current full-year earnings is $6.18 per share. Zacks Research also issued estimates for Cincinnati Financial’s Q4 2024 earnings at $1.95 EPS, FY2024 earnings at $5.46 EPS, Q4 2025 earnings at $1.83 EPS and FY2025 earnings at $6.00 EPS.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.33. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $2.02 billion. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. Cincinnati Financial’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 EPS.

CINF has been the subject of a number of other reports. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $125.00 to $135.00 in a report on Monday. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Finally, Janney Montgomery Scott started coverage on Cincinnati Financial in a report on Thursday, December 14th. They issued a “neutral” rating and a $110.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial has a consensus rating of “Hold” and a consensus target price of $116.71.

Cincinnati Financial Trading Up 2.5 %

CINF stock opened at $123.29 on Thursday. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.30 and a beta of 0.62. 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 business has a fifty day simple moving average of $113.54 and a 200-day simple moving average of $106.72. Cincinnati Financial has a 52 week low of $95.01 and a 52 week high of $123.36.

Hedge Funds Weigh In On Cincinnati Financial

Large investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. increased its stake in shares of Cincinnati Financial by 11.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 24,522 shares of the insurance provider’s stock valued at $2,508,000 after purchasing an additional 2,550 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Cincinnati Financial during the 4th quarter worth approximately $21,036,000. abrdn plc grew its position in Cincinnati Financial by 18.9% during the 3rd quarter. abrdn plc now owns 46,897 shares of the insurance provider’s stock worth $4,797,000 after purchasing an additional 7,450 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Cincinnati Financial by 92.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 236,410 shares of the insurance provider’s stock worth $24,182,000 after purchasing an additional 113,653 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Cincinnati Financial by 163.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 63,647 shares of the insurance provider’s stock worth $6,510,000 after purchasing an additional 39,464 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th will be issued a $0.81 dividend. The ex-dividend date is Monday, March 18th. This represents a $3.24 dividend on an annualized basis and a yield of 2.63%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s dividend payout ratio (DPR) is currently 27.76%.

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.