4,603 Shares in American Financial Group, Inc. $AFG Purchased by S Bank Fund Management Ltd

Key Points

• S Bank Fund Management Ltd acquired 4,603 shares of American Financial Group, Inc. for approximately $581,000 during the 2nd quarter, marking a significant investment in the insurance provider.
• American Financial Group announced a dividend increase to $0.88 per share, up from $0.80, to be paid on October 24th, reflecting a solid annualized yield of 2.7%.
• Research analysts currently have a consensus rating of "Hold" on AFG shares, with recent price targets averaging $136.75, reflecting stability in market expectations for the company.

S Bank Fund Management Ltd bought a new position in American Financial Group, Inc. (NYSE:AFG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,603 shares of the insurance provider's stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AFG. Charles Schwab Investment Management Inc. lifted its stake in shares of American Financial Group by 395.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,520,714 shares of the insurance provider's stock worth $331,071,000 after buying an additional 2,012,027 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of American Financial Group by 240.0% in the first quarter. AQR Capital Management LLC now owns 585,841 shares of the insurance provider's stock worth $76,821,000 after buying an additional 413,516 shares in the last quarter. Nuveen LLC bought a new position in shares of American Financial Group in the first quarter worth approximately $30,442,000. Millennium Management LLC lifted its stake in shares of American Financial Group by 166.7% in the first quarter. Millennium Management LLC now owns 280,012 shares of the insurance provider's stock worth $36,777,000 after buying an additional 175,015 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of American Financial Group by 112.5% in the first quarter. Ameriprise Financial Inc. now owns 327,621 shares of the insurance provider's stock worth $43,030,000 after buying an additional 173,452 shares in the last quarter. Institutional investors own 64.37% of the company's stock.

Insider Buying and Selling

In other American Financial Group news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total transaction of $1,343,100.00. Following the completion of the sale, the director directly owned 326,730 shares of the company's stock, valued at approximately $43,883,106.30. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AFG shares. Wall Street Zen upgraded shares of American Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Jefferies Financial Group boosted their price objective on shares of American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a report on Monday, August 11th. Keefe, Bruyette & Woods decreased their price objective on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a report on Tuesday, August 12th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of American Financial Group in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $136.75.

American Financial Group Stock Down 3.8%

Shares of AFG stock opened at $131.23 on Friday. American Financial Group, Inc. has a 12 month low of $114.73 and a 12 month high of $150.19. The stock has a market cap of $10.94 billion, a P/E ratio of 14.42 and a beta of 0.74. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $138.63 and a two-hundred day simple moving average of $129.91.

American Financial Group (NYSE:AFG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.06. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the prior year, the company earned $2.56 earnings per share. The firm's revenue was up 1.3% on a year-over-year basis. On average, research analysts expect that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.88 per share. This is an increase from American Financial Group's previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, October 15th. American Financial Group's dividend payout ratio is currently 38.68%.

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.

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