TD Asset Management Inc Increases Position in American Financial Group, Inc. (NYSE:AFG)

Key Points

• TD Asset Management Inc increased its holdings in American Financial Group by 8.5% during the first quarter, now owning 33,680 shares valued at approximately $4.4 million.
• American Financial Group reported earnings per share of $1.81 for the last quarter, missing analysts' estimates of $2.17, while revenue decreased 2.6% year-over-year.
• The company recently declared a quarterly dividend of $0.80, resulting in an annualized yield of 2.6% and a payout ratio of 33.61%.

TD Asset Management Inc boosted its holdings in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,680 shares of the insurance provider's stock after acquiring an additional 2,650 shares during the period. TD Asset Management Inc's holdings in American Financial Group were worth $4,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Voya Investment Management LLC boosted its stake in shares of American Financial Group by 89.5% during the fourth quarter. Voya Investment Management LLC now owns 672,851 shares of the insurance provider's stock valued at $92,134,000 after purchasing an additional 317,859 shares in the last quarter. Northern Trust Corp boosted its position in American Financial Group by 35.8% during the 4th quarter. Northern Trust Corp now owns 802,069 shares of the insurance provider's stock valued at $109,827,000 after acquiring an additional 211,630 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in American Financial Group during the 4th quarter valued at $20,675,000. First Trust Advisors LP increased its holdings in shares of American Financial Group by 27.7% in the 4th quarter. First Trust Advisors LP now owns 684,178 shares of the insurance provider's stock valued at $93,684,000 after acquiring an additional 148,259 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of American Financial Group by 6,414.6% in the 1st quarter. SG Americas Securities LLC now owns 129,967 shares of the insurance provider's stock worth $17,070,000 after acquiring an additional 127,972 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on AFG shares. Keefe, Bruyette & Woods lifted their target price on American Financial Group from $125.00 to $127.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Wall Street Zen downgraded shares of American Financial Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st.

American Financial Group Stock Up 3.3%

Shares of AFG stock traded up $4.11 during trading hours on Wednesday, reaching $128.43. 403,114 shares of the company's stock were exchanged, compared to its average volume of 506,894. American Financial Group, Inc. has a 1 year low of $114.73 and a 1 year high of $150.19. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. The stock has a market cap of $10.75 billion, a PE ratio of 13.49 and a beta of 0.74. The stock's fifty day moving average price is $125.10 and its two-hundred day moving average price is $126.29.

American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.06. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.77 billion. American Financial Group had a net margin of 9.66% and a return on equity of 18.34%. American Financial Group's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.56 EPS. Research analysts predict that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Tuesday, July 15th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, July 15th. American Financial Group's dividend payout ratio (DPR) is presently 33.61%.

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.