Frank Rimerman Advisors LLC Increases Stock Position in American Financial Group, Inc. $AFG

Frank Rimerman Advisors LLC raised its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 124.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,737 shares of the insurance provider’s stock after purchasing an additional 5,947 shares during the period. Frank Rimerman Advisors LLC’s holdings in American Financial Group were worth $1,355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AFG. Hantz Financial Services Inc. raised its stake in shares of American Financial Group by 421.1% in the second quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 160 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in American Financial Group in the 2nd quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in American Financial Group in the 1st quarter worth about $34,000. Headlands Technologies LLC purchased a new position in American Financial Group in the 1st quarter worth about $55,000. Finally, IFP Advisors Inc lifted its stake in American Financial Group by 86.7% during the 2nd quarter. IFP Advisors Inc now owns 422 shares of the insurance provider’s stock valued at $57,000 after acquiring an additional 196 shares during the period. Institutional investors own 64.37% of the company’s stock.

Insider Buying and Selling at American Financial Group

In other American Financial Group news, CFO Brian S. Hertzman sold 1,777 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $142.51, for a total transaction of $253,240.27. Following the completion of the sale, the chief financial officer owned 11,300 shares of the company’s stock, valued at approximately $1,610,363. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $134.31, for a total value of $1,343,100.00. Following the completion of the sale, the director owned 326,730 shares of the company’s stock, valued at approximately $43,883,106.30. The trade was a 2.97% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 17.40% of the company’s stock.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $138.53 on Wednesday. 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 stock has a market capitalization of $11.55 billion, a PE ratio of 15.22 and a beta of 0.78. The firm’s 50 day moving average price is $139.12 and its 200-day moving average price is $131.48. American Financial Group, Inc. has a twelve month low of $114.73 and a twelve month high of $150.19.

American Financial Group (NYSE:AFG) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.34. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the business posted $2.31 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities research analysts expect that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th will be paid a $2.00 dividend. The ex-dividend date is Monday, November 17th. American Financial Group’s dividend payout ratio is 36.97%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AFG. Wall Street Zen raised shares of American Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Piper Sandler increased their price objective on shares of American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $142.00 target price on shares of American Financial Group in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Financial Group in a research note on Thursday, November 13th. Finally, Keefe, Bruyette & Woods lowered their price target on 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. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $135.00.

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.