Cincinnati Financial Co. (NASDAQ:CINF) announced a quarterly dividend on Monday, May 7th, RTT News reports. Stockholders of record on Wednesday, June 20th will be paid a dividend of 0.53 per share by the insurance provider on Monday, July 16th. This represents a $2.12 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Tuesday, June 19th.
Cincinnati Financial has increased its dividend by an average of 4.4% annually over the last three years and has increased its dividend annually for the last 57 consecutive years. Cincinnati Financial has a payout ratio of 75.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Cincinnati Financial to earn $3.25 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 61.5%.
Shares of CINF opened at $68.99 on Monday. The stock has a market capitalization of $11.32 billion, a PE ratio of 25.18 and a beta of 0.85. Cincinnati Financial has a one year low of $68.15 and a one year high of $81.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.27 and a quick ratio of 0.27.
In other news, Director David P. Osborn bought 370 shares of the company’s stock in a transaction dated Monday, May 7th. The stock was bought at an average price of $70.16 per share, for a total transaction of $25,959.20. Following the completion of the transaction, the director now directly owns 23,591 shares in the company, valued at approximately $1,655,144.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.07% of the company’s stock.
A number of equities research analysts have recently weighed in on CINF shares. Zacks Investment Research downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. BidaskClub upgraded Cincinnati Financial from a “hold” rating to a “buy” rating in a research report on Friday, March 30th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Cincinnati Financial currently has an average rating of “Hold” and a consensus target price of $76.00.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation 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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