First Trust Advisors LP grew its position in shares of American Financial Group, Inc. (NYSE:AFG – Free Report) by 433.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316,974 shares of the insurance provider’s stock after purchasing an additional 257,522 shares during the quarter. First Trust Advisors LP’s holdings in American Financial Group were worth $40,481,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in American Financial Group during the 1st quarter worth approximately $2,567,000. UBS Group AG raised its stake in shares of American Financial Group by 10.1% during the fourth quarter. UBS Group AG now owns 581,805 shares of the insurance provider’s stock valued at $79,521,000 after acquiring an additional 53,431 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of American Financial Group by 59.8% during the fourth quarter. SG Americas Securities LLC now owns 18,806 shares of the insurance provider’s stock valued at $2,570,000 after acquiring an additional 7,040 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of American Financial Group by 377.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 49,681 shares of the insurance provider’s stock worth $6,790,000 after purchasing an additional 39,279 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of American Financial Group by 281.1% during the first quarter. Y Intercept Hong Kong Ltd now owns 28,243 shares of the insurance provider’s stock worth $3,607,000 after purchasing an additional 20,832 shares during the period. 64.37% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
AFG has been the subject of a number of recent research reports. Piper Sandler increased their price objective on American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods lifted their target price on American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Financial Group in a research report on Thursday, June 11th. Finally, Wells Fargo & Company increased their price target on American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $150.75.
Insider Buying and Selling
In other American Financial Group news, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total value of $1,535,518.50. Following the completion of the sale, the insider directly owned 584,098 shares in the company, valued at approximately $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the transaction, the senior vice president directly owned 13,135 shares in the company, valued at approximately $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 16.90% of the company’s stock.
American Financial Group Price Performance
AFG stock opened at $143.82 on Tuesday. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 13.67 and a beta of 0.62. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.39. American Financial Group, Inc. has a 12-month low of $122.11 and a 12-month high of $150.02. The company’s fifty day simple moving average is $136.97 and its 200 day simple moving average is $132.60.
American Financial Group (NYSE:AFG – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the business posted $1.81 earnings per share. The business’s revenue was down .1% on a year-over-year basis. On average, analysts expect that American Financial Group, Inc. will post 11.37 earnings per share for the current year.
American Financial Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.52 annualized dividend and a yield of 2.4%. American Financial Group’s dividend payout ratio (DPR) is currently 33.46%.
American Financial Group Company Profile
American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.
The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.
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