FAIRFIELD, Ohio (AP) _ Cincinnati Financial Corp. (CINF) on Wednesday reported fourth-quarter earnings of $626 million.
On a per-share basis, the Fairfield, Ohio-based company said it had net income of $3.79. Earnings, adjusted for non-recurring gains, came to $1.23 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.
The insurer posted revenue of $2.15 billion in the period. Its adjusted revenue was $1.62 billion.
For the year, the company reported profit of $2 billion, or $12.10 per share. Revenue was reported as $6.27 billion.
Cincinnati Financial shares have increased roughly 3% since the beginning of the year, while the Standard & Poor's 500 index has increased 3%. In the final minutes of trading on Wednesday, shares hit $108.01, an increase of 31% in the last 12 months.