Allianz Asset Management GmbH Boosts Stake in American Financial Group, Inc. $AFG

Allianz Asset Management GmbH raised its position in shares of American Financial Group, Inc. (NYSE:AFG) by 10.3% in the second quarter, Holdings Channel.com reports. The fund owned 306,080 shares of the insurance provider’s stock after buying an additional 28,626 shares during the quarter. Allianz Asset Management GmbH’s holdings in American Financial Group were worth $38,630,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. American Financial Group Inc. 401 K Retirement & Savings Plan grew its position in American Financial Group by 0.9% during the first quarter. American Financial Group Inc. 401 K Retirement & Savings Plan now owns 2,616,928 shares of the insurance provider’s stock valued at $343,707,000 after acquiring an additional 23,228 shares during the period. Charles Schwab Investment Management Inc. grew its position in American Financial Group by 395.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,520,714 shares of the insurance provider’s stock valued at $331,071,000 after acquiring an additional 2,012,027 shares during the period. Dimensional Fund Advisors LP grew its position in American Financial Group by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 983,398 shares of the insurance provider’s stock valued at $129,147,000 after acquiring an additional 14,265 shares during the period. Northern Trust Corp grew its position in American Financial Group by 2.4% during the first quarter. Northern Trust Corp now owns 820,955 shares of the insurance provider’s stock valued at $107,824,000 after acquiring an additional 18,886 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in American Financial Group by 8.3% during the first quarter. Goldman Sachs Group Inc. now owns 707,682 shares of the insurance provider’s stock valued at $92,947,000 after acquiring an additional 54,204 shares during the period. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Trading Down 0.2%

Shares of NYSE AFG opened at $131.04 on Friday. The stock’s 50 day moving average price is $138.66 and its two-hundred day moving average price is $129.89. American Financial Group, Inc. has a 52-week low of $114.73 and a 52-week high of $150.19. The stock has a market capitalization of $10.93 billion, a P/E ratio of 14.40 and a beta of 0.74. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.06. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%.The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm posted $2.56 earnings per share. American Financial Group’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, October 15th. This is a positive change from American Financial Group’s previous quarterly dividend of $0.80. American Financial Group’s payout ratio is currently 38.68%.

Wall Street Analyst Weigh In

AFG has been the subject of several analyst reports. Jefferies Financial Group upped their target price on American Financial Group from $125.00 to $130.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods decreased their target price on American Financial Group from $127.00 to $124.00 and set a “market perform” rating for the company in a research report on Tuesday, August 12th. Wall Street Zen raised American Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Financial Group in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $136.75.

Insider Buying and Selling at American Financial Group

In other news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $134.31, for a total transaction of $1,343,100.00. Following the sale, the director directly owned 326,730 shares in the company, valued at approximately $43,883,106.30. This represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.40% of the company’s stock.

About American Financial Group

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers’ compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.