Property and casualty insurer Cincinnati Financial (NASDAQ:CINF) beat analyst estimates in the second quarter, earnings $32 million, or 20 cents per share, which was 9 cents more than expected. It easily improved from its net loss of $50 million, or 31 cents per share, a year ago.
Operating profit was also in the black at 17 cents per share, as opposed to the loss of 58 cents per share last year. Revenue improved 5% year-over-year, jumping from $975 million to $1.02 billion and beating Wall Street’s expectations.
Lower catastrophe losses and firming insurance rates have played a role in the company’s recent performance.
Cincinnati Financial is also one of InvestorPlace‘s Dependable Dividend Stocks, as it has been paying a dividend to investors for over 50 years and currently has a heft 4.3% yield.
Shares are up nearly 25% year-to-date and 37% over the entire past year.