Why Shares of Cincinnati Financial Are Falling Today
Shares of the property and casualty insurer Cincinnati Financial (NASDAQ: CINF) had fallen more than 13% as of 10:50 a.m. ET today after the company reported earnings results for the year's second quarter.
Cincinnati Financial reported adjusted earnings per share of $0.65 on total revenue of $820 million for the second quarter of the year; both numbers fell short of analyst estimates.
While earned premiums of $1.77 billion were up year over year, the company took an underwriting loss of $52 million in the quarter compared to a $221 million gain one year ago.
Source Fool.com
