American Financial Group, Inc. $AFG Shares Bought by Jacobs Levy Equity Management Inc.

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. lifted its position in American Financial Group, Inc. (NYSE:AFG - Free Report) by 625.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,964 shares of the insurance provider's stock after acquiring an additional 19,798 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in American Financial Group were worth $3,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Xponance Inc. lifted its stake in shares of American Financial Group by 0.7% in the 1st quarter. Xponance Inc. now owns 11,882 shares of the insurance provider's stock valued at $1,561,000 after purchasing an additional 80 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in shares of American Financial Group by 4.9% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 1,727 shares of the insurance provider's stock valued at $222,000 after purchasing an additional 81 shares during the last quarter. Private Trust Co. NA lifted its stake in American Financial Group by 144.3% during the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock worth $28,000 after acquiring an additional 127 shares in the last quarter. Diversified Trust Co lifted its stake in American Financial Group by 7.0% during the 1st quarter. Diversified Trust Co now owns 2,253 shares of the insurance provider's stock worth $296,000 after acquiring an additional 147 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in American Financial Group by 3.4% during the 4th quarter. Wellington Management Group LLP now owns 5,052 shares of the insurance provider's stock worth $692,000 after acquiring an additional 164 shares in the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the company'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 sale, the director directly owned 326,730 shares of the company's stock, valued at $43,883,106.30. This represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.40% of the stock is currently owned by company insiders.

American Financial Group Stock Performance

Shares of NYSE AFG traded down $0.34 during trading hours on Friday, reaching $139.81. The stock had a trading volume of 309,913 shares, compared to its average volume of 403,792. The firm has a market cap of $11.66 billion, a price-to-earnings ratio of 15.36 and a beta of 0.73. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.19. The firm has a 50-day moving average of $130.77 and a 200-day moving average of $127.28.

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

American Financial Group Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen lowered American Financial Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Jefferies Financial Group increased their target price on American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods decreased their target price on American Financial Group from $127.00 to $124.00 and set a "market perform" rating on the stock in a research note on Tuesday, August 12th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $136.75.

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.