Cincinnati Financial Co. (CINF) to Issue Quarterly Dividend of $0.87 on April 15th

Cincinnati Financial Co. (NASDAQ:CINF) declared a quarterly dividend on Friday, January 31st,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 2.54%. This is an 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 increased its dividend every year for the last 26 years. Cincinnati Financial has a dividend payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cincinnati Financial to earn $7.04 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 46.0%.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $137.05 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $21.42 billion, a PE ratio of 7.04, a P/E/G ratio of 2.43 and a beta of 0.71. Cincinnati Financial has a twelve month low of $104.78 and a twelve month high of $161.74. The company has a 50-day moving average price of $146.00 and a two-hundred day moving average price of $139.63.

Analysts Set New Price Targets

CINF has been the subject of a number of research reports. Bank of America increased their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler increased their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Insider Buying and Selling at Cincinnati Financial

In related news, Director Dirk J. Debbink bought 1,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the transaction, the director now directly owns 54,500 shares in the company, valued at $8,566,855. This trade represents a 1.87 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.83% of the stock is currently owned by company insiders.

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.