Brandywine Global Investment Management LLC Grows Holdings in American Financial Group, Inc. (NYSE:AFG)

Key Points

• Brandywine Global Investment Management LLC increased its holdings in American Financial Group by 62.2% during the 1st quarter, now owning 70,950 shares valued at approximately $9.3 million.
• American Financial Group's recent earnings report showed $2.14 earnings per share (EPS), beating estimates, with quarterly revenue of $1.65 billion.
• The company announced a quarterly dividend of $0.80 per share, equating to a 2.4% yield and a payout ratio of 35.16%.

Brandywine Global Investment Management LLC boosted its stake in American Financial Group, Inc. (NYSE:AFG - Free Report) by 62.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,950 shares of the insurance provider's stock after acquiring an additional 27,197 shares during the period. Brandywine Global Investment Management LLC owned 0.08% of American Financial Group worth $9,319,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. American Financial Group Inc. 401 K Retirement & Savings Plan raised its position in American Financial Group by 0.9% in the first quarter. American Financial Group Inc. 401 K Retirement & Savings Plan now owns 2,616,928 shares of the insurance provider's stock worth $343,707,000 after acquiring an additional 23,228 shares during the period. Charles Schwab Investment Management Inc. raised its position in American Financial Group by 395.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,520,714 shares of the insurance provider's stock worth $331,071,000 after acquiring an additional 2,012,027 shares during the period. Dimensional Fund Advisors LP raised its position in American Financial Group by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 983,398 shares of the insurance provider's stock worth $129,147,000 after acquiring an additional 14,265 shares during the period. Northern Trust Corp raised its position in American Financial Group by 35.8% in the fourth quarter. Northern Trust Corp now owns 802,069 shares of the insurance provider's stock worth $109,827,000 after acquiring an additional 211,630 shares during the period. Finally, First Trust Advisors LP raised its position in American Financial Group by 27.7% in the fourth quarter. First Trust Advisors LP now owns 684,178 shares of the insurance provider's stock worth $93,684,000 after acquiring an additional 148,259 shares during the period. Institutional investors own 64.37% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AFG. Jefferies Financial Group lifted 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. Keefe, Bruyette & Woods lowered their price target on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating on the stock in a research report on Tuesday, August 12th. Finally, Wall Street Zen raised shares of American Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $136.75.

American Financial Group Stock Performance

NYSE AFG opened at $131.57 on Friday. The company's 50 day moving average is $126.15 and its 200-day moving average is $125.98. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19. 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 has a market cap of $10.97 billion, a P/E ratio of 14.46 and a beta of 0.74.

American Financial Group (NYSE:AFG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.06. The company 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 9.21% and a return on equity of 17.41%. The company's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.56 earnings per share. Sell-side analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $3.20 annualized dividend and a yield of 2.4%. American Financial Group's payout ratio is currently 35.16%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.