Goldman Sachs Group Inc. Increases Holdings in American Financial Group, Inc. $AFG

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. grew its holdings in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 707,682 shares of the insurance provider's stock after acquiring an additional 54,204 shares during the period. Goldman Sachs Group Inc. owned 0.85% of American Financial Group worth $92,947,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. American Financial Group Inc. 401 K Retirement & Savings Plan boosted its position in shares of American Financial Group by 0.9% during the 1st quarter. American Financial Group Inc. 401 K Retirement & Savings Plan now owns 2,616,928 shares of the insurance provider's stock valued at $343,707,000 after purchasing an additional 23,228 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of American Financial Group by 395.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,520,714 shares of the insurance provider's stock worth $331,071,000 after buying an additional 2,012,027 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of American Financial Group by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 983,398 shares of the insurance provider's stock worth $129,147,000 after buying an additional 14,265 shares in the last quarter. Northern Trust Corp grew its position in shares of American Financial Group by 2.4% during the 1st quarter. Northern Trust Corp now owns 820,955 shares of the insurance provider's stock worth $107,824,000 after buying an additional 18,886 shares during the period. Finally, Bahl & Gaynor Inc. increased its stake in shares of American Financial Group by 10.2% in the 1st quarter. Bahl & Gaynor Inc. now owns 645,466 shares of the insurance provider's stock valued at $84,776,000 after acquiring an additional 59,715 shares in the last quarter. 64.37% of the stock is owned by institutional investors.

Insider Activity at American Financial Group

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $134.31, for a total transaction of $1,343,100.00. Following the transaction, the director directly owned 326,730 shares of the company's stock, valued at $43,883,106.30. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.40% of the stock is currently owned by corporate insiders.

American Financial Group Stock Down 0.4%

AFG stock traded down $0.55 during mid-day trading on Monday, reaching $139.31. 486,313 shares of the company traded hands, compared to its average volume of 401,971. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33. The firm's 50 day moving average price is $131.03 and its 200 day moving average price is $127.42. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 15.31 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.

American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $2.14 EPS for the quarter, topping the consensus estimate 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 company's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.56 earnings per share. As a group, equities research analysts predict 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. Stockholders of record on Tuesday, July 15th were paid a $0.80 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. American Financial Group's dividend payout ratio is presently 35.16%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AFG. Wall Street Zen raised shares of American Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group increased their price objective on shares of American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a research report 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 for the company in a research report on Tuesday, August 12th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, American Financial Group presently has an average rating of "Hold" and a consensus target price of $136.75.

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.