Quantinno Capital Management LP increased its stake in shares of American Financial Group, Inc. (NYSE:AFG – Free Report) by 7.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 48,326 shares of the insurance provider’s stock after buying an additional 3,532 shares during the quarter. Quantinno Capital Management LP’s holdings in American Financial Group were worth $6,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in AFG. Steph & Co. raised its stake in American Financial Group by 11.5% in the 1st quarter. Steph & Co. now owns 787 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 81 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in American Financial Group by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,975 shares of the insurance provider’s stock valued at $252,000 after purchasing an additional 83 shares during the last quarter. Valmark Advisers Inc. grew its stake in American Financial Group by 1.0% during the 1st quarter. Valmark Advisers Inc. now owns 8,307 shares of the insurance provider’s stock valued at $1,061,000 after purchasing an additional 85 shares during the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of American Financial Group by 3.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 3,061 shares of the insurance provider’s stock valued at $391,000 after purchasing an additional 88 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of American Financial Group by 2.2% in the fourth quarter. Larson Financial Group LLC now owns 4,546 shares of the insurance provider’s stock valued at $621,000 after purchasing an additional 98 shares during the period. 64.37% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. Wells Fargo & Company lifted their target price on American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Piper Sandler increased their price target on shares of American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods raised their price target on shares of American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of American Financial Group in a research note on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $150.75.
American Financial Group Price Performance
Shares of AFG opened at $146.26 on Thursday. The business’s 50-day moving average is $137.93 and its two-hundred day moving average is $133.14. The company has a market capitalization of $12.15 billion, a P/E ratio of 12.79 and a beta of 0.62. American Financial Group, Inc. has a fifty-two week low of $122.88 and a fifty-two week high of $150.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48.
American Financial Group (NYSE:AFG – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.50. American Financial Group had a return on equity of 20.43% and a net margin of 11.51%.The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the firm posted $2.14 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts predict that American Financial Group, Inc. will post 11.37 earnings per share for the current year.
American Financial Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. American Financial Group’s payout ratio is presently 33.46%.
Insider Buying and Selling
In other news, SVP Michelle A. Gillis sold 2,247 shares of the firm’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 transaction of $312,333.00. Following the sale, the senior vice president owned 13,135 shares of the company’s stock, valued at $1,825,765. This trade represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. This trade represents a 1.91% 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.
About American Financial Group
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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