Cincinnati Financial Co. (NASDAQ:CINF) Raises Dividend to $0.87 Per Share

Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Friday, January 31st, RTT News reports. Stockholders of record on Monday, March 24th will be paid a dividend of 0.87 per share by the insurance provider on Tuesday, April 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, March 24th. This is a 7.4% increase from Cincinnati Financial’s previous quarterly dividend of $0.81.

Cincinnati Financial has raised its dividend by an average of 8.7% annually over the last three years and has raised its dividend annually for the last 65 consecutive years. Cincinnati Financial has a payout ratio of 43.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cincinnati Financial to earn $7.92 per share next year, which means the company should continue to be able to cover its $3.48 annual dividend with an expected future payout ratio of 43.9%.

Cincinnati Financial Stock Down 0.4 %

CINF opened at $145.62 on Friday. The company has a market cap of $22.79 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 8.30 and a beta of 0.66. Cincinnati Financial has a twelve month low of $109.93 and a twelve month high of $161.75. The company has a 50-day moving average price of $139.96 and a 200 day moving average price of $142.37. The company has a quick ratio of 0.31, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. Sell-side analysts expect that Cincinnati Financial will post 5.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

CINF has been the topic of several recent research reports. Roth Mkm lifted their target price on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $180.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

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.