Zacks Research Research Analysts Lift Earnings Estimates for Cincinnati Financial Co. (NASDAQ:CINF)

Cincinnati Financial Co. (NASDAQ:CINF) – Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for Cincinnati Financial in a research note issued to investors on Thursday, April 18th. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings per share of $1.36 for the quarter, up from their prior forecast of $1.30. The consensus estimate for Cincinnati Financial’s current full-year earnings is $6.20 per share. Zacks Research also issued estimates for Cincinnati Financial’s Q4 2024 earnings at $2.02 EPS, FY2024 earnings at $5.64 EPS, Q1 2025 earnings at $1.43 EPS, Q3 2025 earnings at $1.49 EPS, Q4 2025 earnings at $1.86 EPS, FY2025 earnings at $6.10 EPS and FY2026 earnings at $7.23 EPS.

CINF has been the subject of several other reports. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Piper Sandler reiterated a “neutral” rating and issued a $116.00 price target on shares of Cincinnati Financial in a research report on Monday, April 1st. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Citigroup boosted their target price on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $123.57.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $117.52 on Friday. The stock has a market cap of $18.41 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 2.37 and a beta of 0.63. Cincinnati Financial has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a fifty day moving average of $116.77 and a 200-day moving average of $108.34.

Cincinnati Financial (NASDAQ:CINF) last announced 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 analysts’ expectations of $2.02 billion. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.27 earnings per share.

Institutional Investors Weigh In On Cincinnati Financial

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Cincinnati Financial by 1.2% during the first quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider’s stock worth $2,453,379,000 after purchasing an additional 211,402 shares during the last quarter. State Street Corp grew its holdings in shares of Cincinnati Financial by 4.1% during the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock worth $1,246,056,000 after acquiring an additional 360,552 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cincinnati Financial by 2.1% during the 1st quarter. Geode Capital Management LLC now owns 3,343,865 shares of the insurance provider’s stock worth $373,978,000 after acquiring an additional 67,706 shares during the period. Bank of America Corp DE grew its holdings in shares of Cincinnati Financial by 1.4% during the 1st quarter. Bank of America Corp DE now owns 3,037,811 shares of the insurance provider’s stock worth $340,478,000 after acquiring an additional 42,128 shares during the period. Finally, London Co. of Virginia grew its holdings in shares of Cincinnati Financial by 7.8% during the 3rd quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock worth $283,658,000 after acquiring an additional 200,414 shares during the period. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $3.24 annualized dividend and a yield of 2.76%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s payout ratio is 27.76%.

About Cincinnati Financial

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.