Cincinnati Finl Corp Stock Price, News & Analysis

Cincinnati Financial Corporation (CINF) reported a Q4 2022 net income of $1.013 billion ($6.40 per share), a 31% decline from $1.470 billion ($9.04 per share) in Q4 2021. The full-year 2022 net loss stands at $486 million ($3.06 per share), compared to a profit of $2.946 billion ($18.10 per share) in 2021. There was a 37% drop in non-GAAP operating income for Q4, totaling $202 million ($1.27 per share), and a 35% decrease for the full year, at $673 million ($4.24 per share). The book value per share decreased by 18% to $67.01, reflecting financial challenges throughout 2022.

Cincinnati Financial Corporation (NASDAQ: CINF) announced board changes following its U.S. subsidiary meetings held on January 27, 2023. Dirk J. Debbink, the lead director, has joined the boards of the property casualty and life insurance subsidiaries and the investment committee of Cincinnati Financial. Additionally, Steven A. Soloria has been promoted to chief investment officer and appointed as an executive officer and director of the subsidiaries. These changes aim to enhance the leadership and investment strategies of the subsidiaries.

Cincinnati Financial Corporation (CINF) announced preliminary fourth-quarter results, with estimated pretax catastrophe losses of approximately $141 million. This marks a significant increase from the historical average of 3.9 percentage points for the same period. Key losses include $161 million attributed to Winter Storm Elliott. The projected property casualty combined ratio for Q4 2022 is around 95%, reflecting a slight improvement over earlier quarters. Net written premium growth is expected to reach 10%. The board declared a quarterly cash dividend of 75 cents per share, a 9% increase from the previous 69 cents, payable on April 14, 2023.

Cincinnati Financial Corporation (CINF) has scheduled a live internet broadcast for its fourth-quarter and full-year 2022 earnings conference call on February 7, 2023, at 11 a.m. ET. The earnings results will be released on February 6, after market close. Interested participants can access the call via the company's investor relations website, where a replay will be available two hours post-call. Cincinnati Financial provides a range of insurance products through its subsidiaries, which include business, home, auto insurance, and more.

Cincinnati Financial Corporation (CINF) declared a 69-cent per share quarterly cash dividend, payable on January 13, 2023, to shareholders of record as of December 16, 2022. CEO Steven J. Johnston expressed confidence in the company's ability to generate long-term shareholder value through a proven strategy and strong financial position to grow the insurance business profitably.

Cincinnati Financial Corporation (CINF) reported a third-quarter 2022 net loss of $418 million or $2.64 per share, a significant decline from net income of $153 million or $0.94 per share in Q3 2021. The results reflect a $557 million after-tax reduction in equity securities' fair value. Non-GAAP operating income fell 45% to $114 million, driven by a $476 million drop in net investment gains. Total revenues decreased 21% year-over-year to $1.408 billion. Book value per share declined to $60.01, marking an 18% drop since year-end.

Cincinnati Financial Corporation (Nasdaq: CINF) announced the election of Dirk J. Debbink as the new lead independent director following the death of William Bahl. The board size has been reduced to 12 members. Debbink, who has been a director since 2012, brings extensive experience from his roles in both civil and military sectors. CEO Steven Johnston expressed confidence in Debbink’s leadership abilities, aiming to enhance shareholder value alongside the newly appointed board structure.

Cincinnati Financial Corporation (Nasdaq: CINF) reported estimated pretax catastrophe losses of approximately $252 million for Q3 2022, impacting the combined ratio by about 13.9 percentage points. Key losses include $220 million from Hurricane Ian, with total estimated losses at $112 million for Cincinnati Re and $69 million for personal lines. The projected combined ratio is 104%, and a net loss of approximately $2.61 to $2.67 per share is expected. The company plans to report detailed results on October 31.

Cincinnati Financial Corporation (CINF) has scheduled a conference call to discuss its third-quarter 2022 financial results on November 1, 2022, at 11 a.m. ET. The earnings report will be released on October 31, 2022, after regular trading hours. Interested participants can join the call live via the internet at www.cinfin.com/investors. A replay will be available approximately two hours after the call. Cincinnati Financial specializes in business, home, and auto insurance through various subsidiaries.