162,900 Shares in American Financial Group, Inc. $AFG Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of American Financial Group, Inc. (NYSE:AFG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 162,900 shares of the insurance provider’s stock, valued at approximately $20,560,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AFG. Private Trust Co. NA boosted its holdings in American Financial Group by 144.3% during the first quarter. Private Trust Co. NA now owns 215 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 127 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in American Financial Group during the first quarter worth about $34,000. Headlands Technologies LLC purchased a new position in American Financial Group during the first quarter worth about $55,000. IFP Advisors Inc boosted its holdings in American Financial Group by 86.7% during the second quarter. IFP Advisors Inc now owns 422 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 196 shares during the last quarter. Finally, Costello Asset Management INC purchased a new position in American Financial Group during the first quarter worth about $68,000. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

American Financial Group Stock Performance

NYSE AFG opened at $131.04 on Monday. The company’s 50 day moving average is $138.66 and its 200-day moving average is $129.89. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33. The firm has a market cap of $10.93 billion, a P/E ratio of 14.40 and a beta of 0.74.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results 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 net margin of 9.21% and a return on equity of 17.41%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm posted $2.56 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Increases Dividend

The firm 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 $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.7%. This is an increase from American Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 15th. American Financial Group’s payout ratio is presently 38.68%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AFG shares. Keefe, Bruyette & Woods cut their price target on shares of American Financial Group from $127.00 to $124.00 and set a “market perform” rating on the stock in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of American Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of American Financial Group in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of American Financial Group from $125.00 to $130.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $136.75.

Insider Activity

In other news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total value of $1,343,100.00. Following the sale, the director owned 326,730 shares of the company’s stock, valued at $43,883,106.30. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 17.40% of the stock is currently owned by company insiders.

American Financial Group Company Profile

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.