Allianz Asset Management GmbH Boosts Stake in American Financial Group, Inc. $AFG

Key Points

• Allianz Asset Management increased its stake in American Financial Group by 10.3%, acquiring an additional 28,626 shares, bringing their total holdings to approximately $38.63 million.
• American Financial Group recently announced a quarterly dividend increase from $0.80 to $0.88, representing an annualized yield of 2.7%.
• Analysts have given the stock a consensus rating of "Hold" with an average target price of $136.75, reflecting mixed outlooks from various financial firms.

Allianz Asset Management GmbH increased its position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 10.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 306,080 shares of the insurance provider's stock after purchasing an additional 28,626 shares during the quarter. Allianz Asset Management GmbH owned 0.37% of American Financial Group worth $38,630,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA raised its holdings in American Financial Group by 144.3% during the first quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock worth $28,000 after purchasing an additional 127 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in American Financial Group during the first quarter worth $34,000. Headlands Technologies LLC acquired a new position in American Financial Group during the first quarter worth $55,000. IFP Advisors Inc raised its holdings in American Financial Group by 86.7% during the second quarter. IFP Advisors Inc now owns 422 shares of the insurance provider's stock worth $57,000 after purchasing an additional 196 shares during the last quarter. Finally, Costello Asset Management INC acquired a new position in American Financial Group during the first quarter worth $68,000. 64.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Keefe, Bruyette & Woods cut their price target on 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. Weiss Ratings reissued a "hold (c+)" rating on shares of American Financial Group in a report on Wednesday, October 8th. Finally, Wall Street Zen raised American Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $136.75.

Insider Buying and Selling

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $134.31, for a total value of $1,343,100.00. Following the completion of the transaction, the director directly owned 326,730 shares in the company, valued at approximately $43,883,106.30. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 17.40% of the company's stock.

American Financial Group Stock Performance

NYSE AFG opened at $131.04 on Friday. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.19. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 14.40 and a beta of 0.74. The business has a fifty day moving average of $138.66 and a 200-day moving average of $129.89. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33.

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

American Financial Group Increases Dividend

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

American Financial Group 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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