# Cincinnati Financial Corporation (CINF)

> Source: Nexqual · https://nexqual.com/CINF · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Cincinnati Financial Corporation (CINF), nexqual.com/CINF" · informational, not investment advice.

**Price:** USD 178.28 (+2.68% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 173.63 · day 174.49–178.72 · 52w 150–194.81 · market cap $27.4B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $14.0B, net income $3.33B (23.8% margin), free cash flow $3.40B (SEC filings).
- Valuation: P/E 8.2x (avg 9.9x at the last 3 fiscal year-ends), net cash $1.10B.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $1.3M; 1 not under a Rule 10b5-1 plan ($1.3M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $172K; 1 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.75 on a 1–5 scale) (8 analysts), mean target USD 188.83 (range 171–200).
- Total return with dividends: 1Y +17.1% vs S&P 500 +14.9%; 5Y +65.2% vs S&P 500 +80.3%.
- Next earnings: 2026-10-26, EPS estimate USD 2.11, revenue estimate $3.03B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $9.63B | $6.56B | $10.0B | $11.3B | $12.6B | $14.0B |
| Net income | $2.97B | -$487M | $1.84B | $2.29B | $2.39B | $3.33B |
| EPS (diluted) | $18.24 | -$3.06 | $11.66 | $14.53 | $15.17 | — |
| Free cash flow | $1.97B | $2.04B | $2.03B | $2.63B | $3.09B | $3.40B |
| Net margin | 30.8% | -7.4% | 18.4% | 20.2% | 18.9% | 23.8% |
| Revenue growth | +27.7% | -31.8% | +52.6% | +13.2% | +11.4% | — |
| Cash + short-term investments | $1.14B | $1.26B | $907M | $1.28B | $1.58B | — |
| Total debt | $789M | $789M | $790M | $790M | $790M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 8.2x · P/S 2.0x · EV/Sales 1.9x · P/FCF 8.0x · P/B 1.6x · FCF yield 12.43% · Earnings yield 12.16% · Dividend yield (paid, TTM) 1.98% · Buyback yield (TTM) 2.04% · Net cash $1.10B · EV $26.3B
P/E at fiscal year-ends: Dec 2025 10.8x, Dec 2024 9.9x, Dec 2023 8.9x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-03 | Schiff Charles Odell | Director | 7,600 | $1.3M | 0.7% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $172K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-25 | Debbink Dirk J | Director | 1,000 | $172K | 171.64 | Opportunistic (traded every year 2023–2025, no repeating month) |

## Analysts
Consensus Hold (mean 2.75 on a 1–5 scale), 8 analysts; mean target USD 188.83 (low 171, high 200).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Keefe, Bruyette & Woods | Target lowered | Market Perform | $190 → $171 |
| 2026-08-05 | Keefe, Bruyette & Woods | Target lowered | Market Perform | $201 → $190 |
| 2026-07-30 | B of A Securities | Downgrade | Buy → Neutral | $197 → $193 |
| 2026-07-28 | Roth Capital | Target raised | Buy | $190 → $200 |
| 2026-07-15 | Piper Sandler | Target raised | Neutral | $175 → $197 |
| 2026-07-08 | Keefe, Bruyette & Woods | Downgrade | Outperform → Market Perform | $191 → $201 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +17.1% | +65.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +17.1% | +10.5% |
| Volatility (annualized) | 20.7% | 24.4% |
| Max drawdown | -16.5% (Jul 2026→Sep 2026) | -34.4% (Apr 2022→Sep 2022) |

## Peers (Insurance - Property & Casualty)
WRB (W.R. Berkley Corporation) USD 75.55 +1.63% · MKL (Markel Group Inc.) USD 1,905.39 +1.79% · L (Loews Corporation) USD 113.68 +1.75% · AIZ (Assurant, Inc.) USD 288.85 +1.60% · CNA (CNA Financial Corporation) USD 49.39 +2.21% · AFG (American Financial Group, Inc.) USD 153.46 +2.53%

## More
Full page: https://nexqual.com/CINF · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CINF's own 10-K filed 2026-02-23 (https://www.sec.gov/Archives/edgar/data/20286/000002028626000008/cinf-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | CSU Producer Resources | "Cincinnati Global and CSU Producer Resources partner by offering a variety of products through a binder authority agreement, enhancing our ability to serve more of our agent's clients and bring quality business to Cincin…" |
| Partner | Skyline Re II | "We entered into a reinsurance agreement with Skyline Re II Ltd. ("Skyline"), an independent Bermuda company registered as a special purpose insurer under the Bermuda Insurance Act of 1978." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Investment | $1.63B | 38.1% | +114.6% |
| Commercial Insurance | $1.25B | 29.3% | +3.3% |
| Personal Insurance | $881.0M | 20.6% | +9.3% |
| Excess and Surplus Lines Insurance | $190.0M | 4.4% | +8.6% |
| Life Insurance | $89.0M | 2.1% | +4.7% |
| Total revenue | $4.27B | 100% | — |
The lines above cover 94.5% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.11 | $1.94 | +8.5% | $3.03B | 8 |
| Next quarter (ends 2026-12-31) | $2.93 | $3.00 | -2.4% | $3.06B | 7 |
| Current fiscal year (ends 2026-12-31) | $8.61 | $8.86 | -2.8% | $13.23B | 8 |
| Next fiscal year (ends 2027-12-31) | $9.06 | $9.22 | -1.7% | $12.61B | 8 |