Jacobs Levy Equity Management Inc. Has $3.02 Million Position in American Financial Group, Inc. $AFG

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its stake in American Financial Group by 625.3%, acquiring a total of 22,964 shares worth approximately $3.02 million.
• American Financial Group reported a quarterly earnings of $2.14 per share, exceeding analysts' expectations, although its revenue of $1.65 billion fell short of projected figures.
• The company declared a quarterly dividend of $0.80, yielding 2.3%, with a payout ratio of 35.16%, reflecting favorable returns for investors.

Jacobs Levy Equity Management Inc. raised its holdings in American Financial Group, Inc. (NYSE:AFG - Free Report) by 625.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,964 shares of the insurance provider's stock after buying an additional 19,798 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in American Financial Group were worth $3,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Gotham Asset Management LLC grew its holdings in American Financial Group by 30.0% in the 1st quarter. Gotham Asset Management LLC now owns 94,701 shares of the insurance provider's stock valued at $12,438,000 after buying an additional 21,865 shares during the last quarter. Curi RMB Capital LLC grew its holdings in American Financial Group by 1.3% in the 1st quarter. Curi RMB Capital LLC now owns 133,910 shares of the insurance provider's stock valued at $17,588,000 after buying an additional 1,686 shares during the last quarter. AQR Capital Management LLC grew its holdings in American Financial Group by 240.0% in the 1st quarter. AQR Capital Management LLC now owns 585,841 shares of the insurance provider's stock valued at $76,821,000 after buying an additional 413,516 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in American Financial Group in the 1st quarter valued at approximately $435,000. Finally, Royal Bank of Canada grew its holdings in American Financial Group by 11.1% in the 1st quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider's stock valued at $9,905,000 after buying an additional 7,554 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company's stock.

American Financial Group Trading Up 0.1%

Shares of NYSE AFG traded up $0.11 during midday trading on Monday, hitting $139.97. The stock had a trading volume of 43,025 shares, compared to its average volume of 494,845. The company's 50-day simple moving average is $130.77 and its 200 day simple moving average is $127.33. The firm has a market cap of $11.67 billion, a P/E ratio of 15.36 and a beta of 0.73. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.19. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.47 and a quick ratio of 0.47.

American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%.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 previous year, the firm earned $2.56 earnings per share. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. Research analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Tuesday, July 15th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, July 15th. American Financial Group's payout ratio is presently 35.16%.

Analysts Set New Price Targets

AFG has been the topic of a number of research analyst reports. Wall Street Zen raised American Financial Group from a "sell" rating to a "hold" rating in a report on Saturday. Keefe, Bruyette & Woods reduced their price objective on American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group lifted their price objective on American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a report on Monday, August 11th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $136.75.

Insider Transactions at American Financial Group

In other American Financial Group news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $43,883,106.30. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.40% of the company's stock.

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.