Equities Analysts Set Expectations for Cincinnati Financial Co.’s Q3 2024 Earnings (NASDAQ:CINF)

Cincinnati Financial Co. (NASDAQ:CINF) – Equities researchers at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for shares of Cincinnati Financial in a research report issued on Thursday, April 18th. Zacks Research analyst T. De now expects that the insurance provider will post earnings of $1.36 per share for the quarter, up from their prior forecast of $1.30. The consensus estimate for Cincinnati Financial’s current full-year earnings is $6.23 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 research reports. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Citigroup boosted their target price on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Piper Sandler reissued a “neutral” rating and set a $116.00 target price on shares of Cincinnati Financial in a research note on Monday, April 1st. Finally, TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Hold” and a consensus target price of $123.57.

Cincinnati Financial Stock Performance

Shares of CINF stock opened at $119.95 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. Cincinnati Financial has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. The stock has a 50 day moving average price of $116.99 and a two-hundred day moving average price of $108.54. The company has a market capitalization of $18.79 billion, a P/E ratio of 10.28, a PEG ratio of 2.41 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data 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. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis.

Institutional Investors Weigh In On Cincinnati Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in 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 worth $2,508,000 after purchasing an additional 2,550 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Cincinnati Financial in the fourth quarter worth $21,036,000. abrdn plc grew its stake in shares of Cincinnati Financial by 18.9% in the third quarter. abrdn plc now owns 46,897 shares of the insurance provider’s stock worth $4,797,000 after acquiring an additional 7,450 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Cincinnati Financial by 163.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 63,647 shares of the insurance provider’s stock worth $6,510,000 after acquiring an additional 39,464 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Cincinnati Financial by 92.6% in the third quarter. The Manufacturers Life Insurance Company now owns 236,410 shares of the insurance provider’s stock worth $24,182,000 after acquiring an additional 113,653 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, March 19th were paid a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.70%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, March 18th. Cincinnati Financial’s dividend payout ratio is presently 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.