American Century Companies Inc. Boosts Stake in American Financial Group, Inc. $AFG

Key Points

• American Century Companies Inc. increased its stake in American Financial Group by 11.9% in Q3 to 203,920 shares, roughly 0.24% ownership worth about $29.7 million.
• AFG beat earnings and revenue estimates for the quarter with EPS of $3.65 (vs. $3.18 est.) and revenue of $2.06 billion (vs. $1.79B est.), although revenue was down about 4% year‑over‑year.
• The company paid a $1.50 special dividend on Feb. 25; concurrently, CFO Brian S. Hertzman sold 1,663 shares (reducing his position by 12.11%), and insiders collectively own 17.40% of the stock.

American Century Companies Inc. increased its holdings in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 11.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 203,920 shares of the insurance provider's stock after acquiring an additional 21,636 shares during the period. American Century Companies Inc. owned approximately 0.24% of American Financial Group worth $29,716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Hantz Financial Services Inc. grew its holdings in American Financial Group by 421.1% in the second quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 160 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of American Financial Group during the 3rd quarter worth approximately $30,000. Atlantic Union Bankshares Corp purchased a new position in shares of American Financial Group during the 2nd quarter valued at approximately $27,000. Root Financial Partners LLC purchased a new position in shares of American Financial Group during the 3rd quarter valued at approximately $34,000. Finally, Smartleaf Asset Management LLC grew its stake in American Financial Group by 165.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 64.37% of the company's stock.

Insiders Place Their Bets

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of the company's stock in a transaction on Friday, February 27th. The stock was sold at an average price of $133.70, for a total value of $222,343.10. Following the completion of the sale, the chief financial officer directly owned 12,073 shares in the company, valued at $1,614,160.10. This represents a 12.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.40% of the company's stock.

American Financial Group Stock Down 0.5%

AFG stock opened at $130.88 on Friday. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 13.00 and a beta of 0.69. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38. American Financial Group, Inc. has a 12 month low of $114.73 and a 12 month high of $150.02. The firm has a 50-day moving average of $131.29 and a two-hundred day moving average of $135.50.

American Financial Group (NYSE:AFG - Get Free Report) last issued its earnings results on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.47. The business had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $1.79 billion. American Financial Group had a return on equity of 18.64% and a net margin of 10.30%.The business's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.12 EPS. As a group, analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The business also recently disclosed a special dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, February 16th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, February 13th. American Financial Group's payout ratio is 34.96%.

Analysts Set New Price Targets

Several equities research analysts recently commented on AFG shares. Jefferies Financial Group reissued a "hold" rating and issued a $142.00 price target on shares of American Financial Group in a report on Tuesday, November 11th. Weiss Ratings lowered shares of American Financial Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, January 12th. Finally, Wells Fargo & Company cut their target price on shares of American Financial Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $141.25.

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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