AQR Capital Management LLC Boosts Stake in American Financial Group, Inc. $AFG

Key Points

• AQR Capital Management increased its stake in American Financial Group (NYSE: AFG) by 240%, owning 585,841 shares valued at approximately $76.82 million as of the latest reporting period.
• American Financial Group reported an EPS of $2.14 for the last quarter, exceeding expectations, though its revenue fell short at $1.65 billion against an estimate of $1.77 billion.
• Institutional investors collectively own 64.37% of American Financial Group's stock, indicating strong institutional interest in the company.

AQR Capital Management LLC grew its stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 240.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 585,841 shares of the insurance provider's stock after acquiring an additional 413,516 shares during the period. AQR Capital Management LLC owned about 0.70% of American Financial Group worth $76,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Trust Co. NA grew its position in shares of American Financial Group by 144.3% during the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 127 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of American Financial Group during the 1st quarter valued at approximately $34,000. Lazard Asset Management LLC bought a new position in shares of American Financial Group during the 4th quarter valued at approximately $53,000. Headlands Technologies LLC bought a new position in shares of American Financial Group during the 1st quarter valued at approximately $55,000. Finally, Costello Asset Management INC bought a new position in American Financial Group during the first quarter worth about $68,000. 64.37% of the stock is owned by institutional investors.

Insider Transactions at American Financial Group

In other American Financial Group news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total value of $1,343,100.00. Following the sale, the director directly owned 326,730 shares in the company, valued at $43,883,106.30. This represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.40% of the stock is owned by corporate insiders.

American Financial Group Price Performance

NYSE AFG traded up $0.62 on Tuesday, hitting $138.28. The stock had a trading volume of 424,158 shares, compared to its average volume of 498,452. American Financial Group, Inc. has a 52-week low of $114.73 and a 52-week high of $150.19. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 15.20 and a beta of 0.73. The firm has a 50-day moving average of $129.75 and a 200-day moving average of $126.87.

American Financial Group (NYSE:AFG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The insurance provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the prior year, the company posted $2.56 EPS. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts expect that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders 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 yield of 2.3%. American Financial Group's dividend payout ratio is currently 35.16%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Wall Street Zen cut shares of American Financial Group from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Finally, Keefe, Bruyette & Woods cut their price target on American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a report on Tuesday, August 12th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $136.75.

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.