American Financial Group, Inc. $AFG Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its holdings in American Financial Group by 8.3%, now owning 707,682 shares valued at approximately $92.9 million.
• A research note from Jefferies Financial Group raised the price target for American Financial Group from $125.00 to $130.00 while maintaining a "hold" rating, amidst other analysts' mixed assessments.
• American Financial Group announced a quarterly dividend of $0.80 per share, reflecting an annualized yield of 2.3% and a payout ratio of 35.16%.

Goldman Sachs Group Inc. raised its holdings in American Financial Group, Inc. (NYSE:AFG - Free Report) by 8.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 707,682 shares of the insurance provider's stock after purchasing an additional 54,204 shares during the quarter. Goldman Sachs Group Inc. owned 0.85% of American Financial Group worth $92,947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Trust Co. NA raised its holdings in shares of American Financial Group by 144.3% in the 1st 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 period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of American Financial Group in the 1st quarter valued at $34,000. Lazard Asset Management LLC purchased a new stake in shares of American Financial Group in the 4th quarter valued at $53,000. Headlands Technologies LLC purchased a new stake in shares of American Financial Group in the 1st quarter valued at $55,000. Finally, Costello Asset Management INC purchased a new stake in shares of American Financial Group in the 1st quarter valued at $68,000. Hedge funds and other institutional investors own 64.37% of the company's stock.

Wall Street Analysts Forecast Growth

AFG has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut their price objective on American Financial Group from $127.00 to $124.00 and set a "market perform" rating on the stock in a report on Tuesday, August 12th. Wall Street Zen upgraded American Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Jefferies Financial Group boosted 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $136.75.

Insider Activity

In other 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 transaction 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. This represents a 2.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 17.40% of the company's stock.

American Financial Group Stock Up 1.4%

AFG traded up $1.95 on Thursday, hitting $140.99. 475,681 shares of the company were exchanged, compared to its average volume of 429,854. American Financial Group, Inc. has a twelve month low of $114.73 and a twelve month high of $150.19. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 15.49 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. The firm has a 50-day moving average price of $131.80 and a two-hundred day moving average price of $127.66.

American Financial Group (NYSE:AFG - Get Free Report) last released its earnings results on Tuesday, August 5th. The insurance provider reported $2.14 EPS for the quarter, topping the consensus estimate 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 firm 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 posted $2.56 EPS. American Financial Group's revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Dividend Announcement

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

About American Financial Group

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.