Cincinnati Financial Co. (NASDAQ:CINF) Forecasted to Post Q3 2024 Earnings of $1.47 Per Share

Cincinnati Financial Co. (NASDAQ:CINF) – Analysts at Roth Capital increased their Q3 2024 earnings per share estimates for Cincinnati Financial in a research note issued to investors on Friday, April 26th. Roth Capital analyst H. Fong now anticipates that the insurance provider will post earnings of $1.47 per share for the quarter, up from their previous estimate of $1.46. The consensus estimate for Cincinnati Financial’s current full-year earnings is $6.33 per share. Roth Capital also issued estimates for Cincinnati Financial’s Q4 2024 earnings at $2.16 EPS and Q3 2025 earnings at $1.73 EPS.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.13 billion. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.63%. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS.

Several other research analysts have also commented on CINF. Piper Sandler restated a “neutral” rating and issued a $116.00 price objective on shares of Cincinnati Financial in a report on Monday, April 1st. BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $125.00 to $135.00 in a report on Monday, March 25th. Keefe, Bruyette & Woods upped their target price on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Citigroup increased their target price on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Cincinnati Financial has a consensus rating of “Hold” and a consensus target price of $123.57.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $110.88 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $17.37 billion, a P/E ratio of 7.38, a P/E/G ratio of 2.24 and a beta of 0.63. The business’s 50 day moving average price is $117.71 and its 200-day moving average price is $109.18. Cincinnati Financial has a fifty-two week low of $95.01 and a fifty-two week high of $124.35.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CINF. Robeco Institutional Asset Management B.V. raised its position in shares of Cincinnati Financial by 11.6% in the 3rd 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 last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Cincinnati Financial during the 4th quarter valued at about $21,036,000. abrdn plc increased its stake in Cincinnati Financial by 18.9% during the 3rd quarter. abrdn plc now owns 46,897 shares of the insurance provider’s stock valued at $4,797,000 after purchasing an additional 7,450 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in 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 buying an additional 113,653 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted 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 buying an additional 39,464 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

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.