Machina Capital S.A.S. boosted its holdings in shares of American Financial Group, Inc. (NYSE:AFG – Free Report) by 20.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,155 shares of the insurance provider’s stock after acquiring an additional 3,284 shares during the quarter. Machina Capital S.A.S.’s holdings in American Financial Group were worth $2,620,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in AFG. BlackRock Inc. bought a new stake in American Financial Group in the second quarter worth approximately $1,079,329,000. Bank of New York Mellon Corp acquired a new position in shares of American Financial Group during the 2nd quarter worth $102,590,000. Bank of America Corp DE acquired a new position in shares of American Financial Group during the 2nd quarter worth $53,939,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of American Financial Group by 337.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider’s stock valued at $55,061,000 after purchasing an additional 332,517 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of American Financial Group by 433.2% during the 1st quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider’s stock valued at $40,481,000 after purchasing an additional 257,522 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at American Financial Group
In other American Financial Group news, CFO Brian Hertzman sold 950 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total value of $135,726.50. Following the sale, the chief financial officer owned 11,123 shares of the company’s stock, valued at $1,589,143.01. This trade represents a 7.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 16.90% of the company’s stock.
Analyst Ratings Changes
Several research firms recently issued reports on AFG. Wells Fargo & Company lifted their price objective on shares of American Financial Group from $166.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Oppenheimer set a $150.00 price objective on shares of American Financial Group in a report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of American Financial Group in a research report on Wednesday, November 4th. Piper Sandler increased their target price on shares of American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Keefe, Bruyette & Woods raised their target price on American Financial Group from $147.00 to $150.00 and gave the company a “market perform” rating in a report on Monday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, American Financial Group presently has an average rating of “Moderate Buy” and an average target price of $159.00.
View Our Latest Report on American Financial Group
American Financial Group Stock Up 0.2%
AFG opened at $161.19 on Thursday. The business has a 50 day moving average price of $145.90 and a 200 day moving average price of $137.46. American Financial Group, Inc. has a twelve month low of $123.09 and a twelve month high of $161.31. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $13.34 billion, a P/E ratio of 13.15 and a beta of 0.55.
American Financial Group (NYSE:AFG – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The insurance provider reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.17. American Financial Group had a return on equity of 22.56% and a net margin of 11.96%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the business earned $2.69 earnings per share. Research analysts forecast that American Financial Group, Inc. will post 12.51 EPS for the current year.
American Financial Group Dividend Announcement
The firm also recently disclosed a special dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a $3.50 dividend. The ex-dividend date is Monday, November 16th. American Financial Group’s payout ratio is presently 31.65%.
American Financial Group Company Profile
American Financial Group, Inc. is an insurance holding company headquartered in Cincinnati, Ohio. Through Great American Insurance Group, it provides property and casualty insurance, with a focus on specialty commercial markets and coverage tailored to specific industries and customer needs. Its products include insurance for businesses, farms and agricultural operations, and individuals, offered through a network of independent agents and brokers. AFG’s insurance operations serve customers primarily in the United States, with some products and services available internationally.
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