American Financial Group, Inc. $AFG Shares Bought by Millennium Management LLC

Key Points

• Millennium Management LLC significantly increased its stake in American Financial Group by 166.7%, owning 280,012 shares valued at approximately $36.8 million as of the latest SEC filing.
• Insider transactions were noted as Director Stephen Craig Lindner, Jr. sold 10,000 shares for over $1.34 million, reflecting a 2.97% decrease in his position, while company insiders collectively own 17.40% of the stock.
• American Financial Group reported a $2.14 EPS in its latest earnings, surpassing analysts' expectations, and announced a quarterly dividend of $0.80 per share.

Millennium Management LLC boosted its position in American Financial Group, Inc. (NYSE:AFG - Free Report) by 166.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 280,012 shares of the insurance provider's stock after buying an additional 175,015 shares during the quarter. Millennium Management LLC owned approximately 0.33% of American Financial Group worth $36,777,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA increased its holdings in American Financial Group by 144.3% in the first quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock valued at $28,000 after buying an additional 127 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of American Financial Group during the first quarter valued at approximately $34,000. Lazard Asset Management LLC bought a new position in shares of American Financial Group during the fourth quarter valued at approximately $53,000. Headlands Technologies LLC bought a new position in shares of American Financial Group during the first quarter valued at approximately $55,000. Finally, Costello Asset Management INC bought a new position in American Financial Group in the 1st quarter worth approximately $68,000. 64.37% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 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 in the company, valued at $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 is available at this hyperlink. 17.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AFG shares. Keefe, Bruyette & Woods decreased their price objective 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. Jefferies Financial Group increased 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. Finally, Wall Street Zen lowered American Financial Group from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $136.75.

American Financial Group Price Performance

AFG traded down $0.34 during trading 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 capitalization of $11.66 billion, a price-to-earnings ratio of 15.36 and a beta of 0.73. 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, Inc. has a 1-year low of $114.73 and a 1-year high of $150.19. The stock has a 50 day moving average of $130.77 and a two-hundred day moving average of $127.28.

American Financial Group (NYSE:AFG - Get Free Report) last released its earnings results on Tuesday, August 5th. The insurance provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.77 billion. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%.The firm's revenue for the quarter 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, equities analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Announces Dividend

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

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.