Balyasny Asset Management L.P. Grows Stock Holdings in American Financial Group, Inc. (NYSE:AFG)

Balyasny Asset Management L.P. lifted its stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 83.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 229,348 shares of the insurance provider's stock after buying an additional 104,170 shares during the quarter. Balyasny Asset Management L.P. owned about 0.27% of American Financial Group worth $31,405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Intech Investment Management LLC grew its position in shares of American Financial Group by 57.1% in the fourth quarter. Intech Investment Management LLC now owns 38,623 shares of the insurance provider's stock valued at $5,289,000 after purchasing an additional 14,045 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of American Financial Group by 2.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 151,771 shares of the insurance provider's stock worth $20,782,000 after purchasing an additional 3,911 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of American Financial Group by 55.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,837 shares of the insurance provider's stock valued at $1,073,000 after buying an additional 2,789 shares in the last quarter. Franklin Resources Inc. lifted its stake in American Financial Group by 17.4% during the third quarter. Franklin Resources Inc. now owns 49,796 shares of the insurance provider's stock worth $6,833,000 after purchasing an additional 7,365 shares during the last quarter. Finally, Argent Capital Management LLC boosted its stake in American Financial Group by 9.8% in the fourth quarter. Argent Capital Management LLC now owns 31,362 shares of the insurance provider's stock valued at $4,294,000 after buying an additional 2,787 shares in the last quarter. Institutional investors own 64.37% of the company's stock.

American Financial Group Price Performance

Shares of AFG stock traded down $0.65 on Friday, reaching $122.15. The company's stock had a trading volume of 531,505 shares, compared to its average volume of 380,280. The stock's 50 day simple moving average is $126.51 and its 200-day simple moving average is $131.86. The company has a market capitalization of $10.22 billion, a P/E ratio of 11.56 and a beta of 0.72. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19.

American Financial Group (NYSE:AFG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.36). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.74 billion. American Financial Group had a return on equity of 20.30% and a net margin of 10.66%. The firm's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.76 earnings per share. As a group, equities analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Tuesday, April 15th. American Financial Group's payout ratio is 30.27%.

Insiders Place Their Bets

In related news, Director Gregory G. Joseph purchased 3,000 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $121.00 per share, for a total transaction of $363,000.00. Following the completion of the acquisition, the director now owns 57,477 shares in the company, valued at approximately $6,954,717. This trade represents a 5.51 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 17.40% of the company's stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their price target on shares of American Financial Group from $126.00 to $125.00 and set a "market perform" rating for the company in a research report on Friday.

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.