Cincinnati Financial (NASDAQ:CINF) Shares Gap Up Following Strong Earnings

Cincinnati Financial Co. (NASDAQ:CINF)’s share price gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $135.87, but opened at $144.21. Cincinnati Financial shares last traded at $138.13, with a volume of 119,347 shares.

The insurance provider reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.37. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the firm posted $1.72 EPS. The business’s revenue was up 13.2% on a year-over-year basis.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 24th were issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.53%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. The ex-dividend date was Monday, March 24th. Cincinnati Financial’s dividend payout ratio is presently 23.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods decreased their target price on Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Roth Mkm upped their price target on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, StockNews.com upgraded shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.40.

Institutional Trading of Cincinnati Financial

Large investors have recently bought and sold shares of the stock. Park National Corp OH raised its position in Cincinnati Financial by 0.6% during the 1st quarter. Park National Corp OH now owns 12,686 shares of the insurance provider’s stock worth $1,874,000 after buying an additional 72 shares during the last quarter. Simon Quick Advisors LLC raised its stake in shares of Cincinnati Financial by 5.0% during the 4th quarter. Simon Quick Advisors LLC now owns 1,562 shares of the insurance provider’s stock valued at $224,000 after buying an additional 74 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock worth $26,000 after buying an additional 76 shares during the last quarter. Park Avenue Securities LLC grew its holdings in Cincinnati Financial by 0.4% during the fourth quarter. Park Avenue Securities LLC now owns 17,473 shares of the insurance provider’s stock worth $2,511,000 after acquiring an additional 78 shares during the period. Finally, Tidal Investments LLC lifted its holdings in Cincinnati Financial by 1.4% in the third quarter. Tidal Investments LLC now owns 5,819 shares of the insurance provider’s stock valued at $792,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 1.2 %

The firm has a market cap of $21.53 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 8.30 and a beta of 0.53. The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $139.19 and a 200 day simple moving average of $142.55.

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.