DoubleLine ETF Adviser LP Grows Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

DoubleLine ETF Adviser LP lifted its position in Cincinnati Financial Co. (NASDAQ:CINF) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,829 shares of the insurance provider’s stock after buying an additional 146 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Cincinnati Financial were worth $334,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. increased its stake in Cincinnati Financial by 252.2% during the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC purchased a new stake in Cincinnati Financial during the 2nd quarter worth approximately $29,000. Raleigh Capital Management Inc. acquired a new stake in Cincinnati Financial during the 4th quarter worth approximately $31,000. Future Financial Wealth Managment LLC purchased a new position in Cincinnati Financial in the 1st quarter valued at approximately $47,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Cincinnati Financial in the second quarter worth $49,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CINF shares. Bank of America decreased their target price on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Citigroup upgraded shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, Roth Mkm lifted their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.57.

Cincinnati Financial Stock Performance

Shares of CINF opened at $134.96 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial Co. has a 52-week low of $96.86 and a 52-week high of $139.34. The stock has a 50 day moving average price of $131.29 and a 200 day moving average price of $122.65. The company has a market capitalization of $21.13 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 2.65 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the firm posted $1.21 EPS. The company’s revenue was up 11.4% on a year-over-year basis. Research analysts predict that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Tuesday, September 17th. Cincinnati Financial’s payout ratio is currently 21.56%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.