Cincinnati Financial Co. (NASDAQ:CINF) – Langen Mcalenn lowered their Q2 2019 earnings estimates for Cincinnati Financial in a report issued on Monday, April 29th, Zacks Investment Research reports. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will post earnings of $0.70 per share for the quarter, down from their previous estimate of $0.73. Langen Mcalenn also issued estimates for Cincinnati Financial’s Q3 2019 earnings at $0.92 EPS, Q4 2019 earnings at $1.04 EPS, FY2019 earnings at $3.70 EPS and Q4 2020 earnings at $1.11 EPS.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. Cincinnati Financial had a return on equity of 7.35% and a net margin of 15.97%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the firm earned $0.72 EPS. Cincinnati Financial’s quarterly revenue was up 76.4% on a year-over-year basis.
A number of other brokerages have also weighed in on CINF. BidaskClub upgraded Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 5th. Zacks Investment Research upgraded Cincinnati Financial from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective for the company in a research note on Tuesday, February 12th. Finally, Credit Suisse Group upgraded Cincinnati Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $90.00 to $110.00 in a research note on Friday, May 17th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Cincinnati Financial presently has an average rating of “Buy” and an average target price of $95.67.
NASDAQ CINF traded up $0.41 during mid-day trading on Tuesday, reaching $99.64. 754,000 shares of the company’s stock traded hands, compared to its average volume of 676,486. Cincinnati Financial has a 1-year low of $66.33 and a 1-year high of $100.00. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.10. The firm has a market cap of $16.01 billion, a PE ratio of 29.74 and a beta of 0.72.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc grew its position in shares of Cincinnati Financial by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 17,645,128 shares of the insurance provider’s stock worth $1,355,324,000 after acquiring an additional 215,956 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Cincinnati Financial by 4.6% in the 4th quarter. BlackRock Inc. now owns 13,530,397 shares of the insurance provider’s stock worth $1,047,524,000 after purchasing an additional 598,513 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Cincinnati Financial by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,334,300 shares of the insurance provider’s stock worth $256,108,000 after purchasing an additional 354,822 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cincinnati Financial by 8.4% in the 1st quarter. Geode Capital Management LLC now owns 2,415,701 shares of the insurance provider’s stock worth $207,193,000 after purchasing an additional 187,438 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Cincinnati Financial by 2.2% in the 1st quarter. Northern Trust Corp now owns 1,955,668 shares of the insurance provider’s stock worth $167,992,000 after purchasing an additional 41,268 shares during the last quarter. Institutional investors own 65.12% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Wednesday, June 19th will be given a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $2.24 annualized dividend and a dividend yield of 2.25%. Cincinnati Financial’s payout ratio is 66.87%.
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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