Cincinnati Financial
Writes agency-distributed property, casualty, specialty, reinsurance and life coverage.
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Profile
Writes commercial, personal and specialty property-and-casualty insurance through independent agencies, with additional reinsurance, life insurance and fixed annuities. Locally based underwriters and claims representatives support agency relationships, while underwriting results and an equity-heavy investment portfolio jointly shape earnings.
Writes commercial and personal property-and-casualty policies through appointed independent agencies across 46 states. Commercial lines cover business property, liability, auto, workers' compensation and specialty risks; personal lines include auto, homeowners, umbrella and Cincinnati Private Client. Cincinnati Specialty Underwriters handles excess-and-surplus business, while Cincinnati Re assumes reinsurance and Cincinnati Global underwrites specialty risks through Lloyd's Syndicate 318. Cincinnati Life adds life insurance and fixed annuities.
Pairs locally based field underwriting and claims teams with headquarters support, giving field representatives authority to assess risks and resolve covered claims near the agencies they serve. Investment income and gains supplement underwriting results, with common stocks forming a substantial part of the portfolio. Insurance subsidiaries are primarily state-regulated, while earnings remain exposed to catastrophe claims, reserve estimates and equity-market movements.
Company facts
Categories
Key statistics
Year to date +6.5% · Average volume (30d) 589.4K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | B of A Securities | Downgrade | Buy | Neutral | ||
| Jul 28, 2026 | Roth Capital | Reiterate | Buy | $190 | $200 | |
| Jul 15, 2026 | Atlantic Equities | Target | $197 | |||
| Jul 15, 2026 | Piper Sandler | Reiterate | Neutral | $175 | $197 | |
| Jul 8, 2026 | Keefe, Bruyette & Woods | Downgrade | Outperform | Market Perform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 27, 2026Q2 FY26 | $1.84 | $1.43 | −22.3% | $2.71B | $2.64B | −2.8% | −0.87% |
| Apr 27, 2026Q1 FY26 | $1.93 | $2.10 | +8.8% | $2.61B | $2.60B | −0.1% | −0.41% |
| Feb 9, 2026Q4 FY25 | $2.90 | $3.37 | +16.2% | $2.55B | $2.59B | +1.5% | −3.33% |
| Oct 27, 2025Q3 FY25 | $2.14 | $2.85 | +33.2% | $2.55B | $3.73B | +46.0% | −3.74% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.57B | $3.25B | $3.73B | $3.09B | $2.86B | $4.27B | |
| Gross profit | $598.0M | $1.59B | $2.19B | $1.62B | $1.11B | $2.38B | |
| Operating income | −$128.0M | $855.0M | $1.41B | $840.0M | $326.0M | $1.58B | |
| Net income | −$90.0M | $685.0M | $1.12B | $676.0M | $274.0M | $1.26B | |
| Diluted EPS | −$0.58 | $4.34 | $7.11 | $4.30 | $1.75 | $8.05 | |
| Gross margin | 23.3% | 48.9% | 58.7% | 52.4% | 38.8% | 55.7% | |
| Operating margin | -5.0% | 26.3% | 37.9% | 27.2% | 11.4% | 36.9% |
Fiscal years (4-quarter sums)FY21 $9.63B · FY22 $6.56B · FY23 $10.01B · FY24 $11.34B · FY25 $12.63B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $34.03B · Total debt $876.0M · Total assets $43.08B · Shareholders' equity $16.67B
Dividends
Raised for 38 straight years — most recently to $0.94 from $0.87 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 23, 2026 | Jun 23 | Jul 15 | $0.94 | |
| Mar 24, 2026 | Mar 24 | Apr 15 | $0.94 | raised from $0.87 |
| Dec 22, 2025 | Dec 22 | Jan 15 | $0.87 | |
| Sep 22, 2025 | Sep 22 | Oct 15 | $0.87 | |
| Jun 23, 2025 | Jun 23 | Jul 15 | $0.87 | |
| Mar 24, 2025 | Mar 24 | Apr 15 | $0.87 | raised from $0.81 |
| Dec 19, 2024 | Dec 19 | Jan 15 | $0.81 | |
| Sep 17, 2024 | Sep 17 | Oct 15 | $0.81 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 153.48M · Float 150.60M · 98.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 12.61M | 8.22% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 10.12M | 6.60% | 13F | Aug 13, 2026 |
| State Street Corp | 8.54M | 5.56% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 8.15M | 5.31% | 13F | Aug 13, 2026 |
| Sixth Street Partners Management Company, L.P. | 5.48M | 3.57% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Dirk J. Debbink | director | +1,000 | $171.64 |
| Aug 3, 2026 | Charles Odell Schiff | director | −7,600 | $175.40 |
| Feb 11, 2026 | Dirk J. Debbink | director | +1,000 | $162.58 |
| Dec 3, 2025 | Edward Scott Wilkins | director | +140 | $163.77 |
| Oct 28, 2025 | Dirk J. Debbink | director | +1,000 | $153.98 |
Peers
- Travelers
Largest independent-agency P&C insurer; overlaps commercial and personal lines.
- Chubb
Global P&C giant; #1 HNW personal insurer; commercial, E&S, and Lloyd's overlap.
- The Hartford
#1 small-commercial carrier; commercial lines and E&S via independent agents.
- W. R. Berkley
Decentralized specialty/E&S insurer; commercial, E&S, and HNW personal overlap.
- The Hanover Insurance Group
Select-agency P&C; overlaps commercial, specialty, and personal lines.
- Selective Insurance Group
Exclusive independent-agency pure-play; direct commercial and personal peer.
- Erie Indemnity
Exclusive-agency insurer (mgmt co.); commercial and personal in Midwest.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cincinnati Financial | $171.97 | 0.00% | $26.39B | 8.1 | 19.6 | 1.9 | −18.9% |
| Travelers | $372.15 | +0.62% | $77.15B | 9.9 | 12.4 | 1.6 | −4.8% |
| Chubb | $340.37 | +0.13% | $131.14B | 12.0 | 12.2 | 2.1 | −1.3% |
| The Hartford | $137.85 | −0.49% | $37.98B | 9.0 | 10.6 | 1.3 | +4.0% |
| W. R. Berkley | $70.65 | +3.20% | $25.48B | 14.1 | 14.5 | 1.4 | +1.2% |
| The Hanover Insurance Group | $227.67 | −0.02% | $7.93B | 10.9 | 12.0 | 1.2 | +0.4% |
| Selective Insurance Group | $92.46 | −0.08% | $5.51B | 11.5 | 10.9 | 1.0 | −8.0% |
| Erie Indemnity | $260.40 | +0.01% | $12.03B | 23.7 | — | 2.9 | +2.8% |
| Median | 11.5 | 12.1 | 1.4 | +0.4% |