American Financial Group, Inc. $AFG Stake Raised by M&T Bank Corp

Key Points

• M&T Bank Corp dramatically increased its stake in American Financial Group by 20,131.5% in Q4, acquiring an additional 633,941 shares to hold 637,090 shares (~0.76% of the company) valued at about $87.08 million.
• American Financial Group beat quarterly expectations with EPS of $3.65 versus a $3.18 estimate and revenue of $2.06 billion (though revenue was down 4% YoY), and the company declared a quarterly dividend of $0.88 ($3.52 annualized, ~2.7% yield) with an ex-dividend date of April 15.

M&T Bank Corp boosted its holdings in American Financial Group, Inc. (NYSE:AFG - Free Report) by 20,131.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 637,090 shares of the insurance provider's stock after acquiring an additional 633,941 shares during the quarter. M&T Bank Corp owned about 0.76% of American Financial Group worth $87,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in American Financial Group in the third quarter worth about $30,000. Root Financial Partners LLC acquired a new stake in American Financial Group during the 3rd quarter worth about $34,000. Smartleaf Asset Management LLC raised its holdings in American Financial Group by 165.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider's stock worth $39,000 after buying an additional 170 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in American Financial Group during the 3rd quarter worth about $44,000. Finally, Quent Capital LLC acquired a new stake in American Financial Group during the 3rd quarter worth about $46,000. 64.37% of the stock is currently owned by institutional investors.

American Financial Group Price Performance

NYSE AFG opened at $130.67 on Wednesday. The stock's 50-day moving average price is $129.62 and its two-hundred day moving average price is $133.01. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38. The company has a market cap of $10.86 billion, a PE ratio of 12.98 and a beta of 0.69. American Financial Group, Inc. has a 1 year low of $120.52 and a 1 year high of $150.02.

American Financial Group (NYSE:AFG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.47. The firm had revenue of $2.06 billion for 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 business's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.12 EPS. On average, analysts predict that American Financial Group, Inc. will post 10.98 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Wednesday, April 15th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, April 15th. American Financial Group's payout ratio is 34.96%.

Insiders Place Their Bets

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of American Financial Group stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $133.70, for a total transaction of $222,343.10. Following the transaction, the chief financial officer owned 12,073 shares of the company's stock, valued at $1,614,160.10. The trade was a 12.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 16.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on AFG shares. Keefe, Bruyette & Woods boosted their price objective on American Financial Group from $134.00 to $140.00 and gave the stock a "market perform" rating in a report on Wednesday, March 25th. Weiss Ratings upgraded American Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 16th. Finally, Wells Fargo & Company cut their price objective on American Financial Group from $160.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $144.00.

About American Financial Group

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.

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