FAIRFIELD, Ohio (AP) _ The Cincinnati Financial Corp. (CINF) on Wednesday reported a profit of $ 1.05 billion in the fourth quarter.
On a stock basis, the Fairfield, Ohio-based company reported earnings of $ 6.47. Earnings, adjusted for capital gains, were $ 1.61 per share.
The results exceeded Wall Street’s expectations. The average estimate by six analysts surveyed by Zacks Investment Research was earnings of $ 1.17 per share.
The insurer had revenues of $ 2.69 billion in the reporting period. Adjusted sales were $ 1.7 billion.
For the year, the company reported earnings of $ 1.22 billion, or $ 7.49 per share. The turnover was given with 6.67 billion US dollars.
Cincinnati Financial stocks are up nearly 2% year-to-date, while the Standard & Poor’s 500 Index is up 4%. In the last few minutes of trading Wednesday, shares hit $ 89.04, down 22% over the past 12 months.