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

Key Points

• Viking Fund Management LLC increased its stake in American Financial Group by 146.3% in Q4, buying 60,000 shares to hold 101,000 shares (about $13.8M), making AFG its 15th-largest position.
• American Financial Group beat Q4 expectations, reporting $3.65 EPS vs. $3.18 expected and $2.06B revenue vs. $1.79B expected, and paid a $1.50 special dividend on Feb. 25; analysts still have a consensus "Hold" with a $141.25 target.

Viking Fund Management LLC grew its holdings in American Financial Group, Inc. (NYSE:AFG - Free Report) by 146.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,000 shares of the insurance provider's stock after buying an additional 60,000 shares during the quarter. American Financial Group accounts for 1.6% of Viking Fund Management LLC's investment portfolio, making the stock its 15th largest position. Viking Fund Management LLC owned about 0.12% of American Financial Group worth $13,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AFG. ProShare Advisors LLC boosted its holdings in American Financial Group by 8.0% in the 3rd quarter. ProShare Advisors LLC now owns 278,279 shares of the insurance provider's stock worth $40,551,000 after buying an additional 20,554 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of American Financial Group by 9.7% during the third quarter. Allianz Asset Management GmbH now owns 335,673 shares of the insurance provider's stock valued at $48,914,000 after acquiring an additional 29,593 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of American Financial Group in the second quarter valued at approximately $1,790,000. Dimensional Fund Advisors LP boosted its stake in shares of American Financial Group by 10.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,127,518 shares of the insurance provider's stock worth $164,293,000 after acquiring an additional 110,872 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of American Financial Group by 23.0% during the second quarter. American Century Companies Inc. now owns 182,284 shares of the insurance provider's stock worth $23,006,000 after purchasing an additional 34,027 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company's stock.

Insiders Place Their Bets

In other news, CFO Brian S. Hertzman sold 1,663 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were 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 owned 12,073 shares of the company's stock, valued at $1,614,160.10. This represents a 12.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 17.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings upgraded American Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 16th. Wells Fargo & Company reduced 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 report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $141.25.

American Financial Group Stock Performance

NYSE AFG opened at $127.72 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.23 and a current ratio of 0.23. The stock's fifty day moving average is $129.61 and its two-hundred day moving average is $134.78. The firm has a market capitalization of $10.64 billion, a P/E ratio of 12.68 and a beta of 0.69. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.02.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.18 by $0.47. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.79 billion. American Financial Group had a return on equity of 18.64% and a net margin of 10.30%.The company's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the company earned $3.12 EPS. On average, research analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Dividend Announcement

The company also recently announced 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%.

American Financial Group Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.