Bridges Investment Management Inc. Increases Stock Position in American Financial Group, Inc. $AFG

Key Points

• Bridges Investment Management Inc. increased its stake in American Financial Group by 3.5% during the second quarter, holding over 104,136 shares worth approximately $13.14 million.
• Multiple institutional investors boosted their positions, with Boston Trust Walden Corp increasing its stake by 15.4%, now owning over 580,638 shares valued at around $73.28 million.
• American Financial Group will pay a quarterly dividend of $0.88 on October 24, raising its annualized dividend to $3.52 and reflecting a yield of 2.6%.

Bridges Investment Management Inc. raised its position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,136 shares of the insurance provider's stock after buying an additional 3,541 shares during the quarter. Bridges Investment Management Inc. owned about 0.12% of American Financial Group worth $13,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Trust Walden Corp lifted its position in American Financial Group by 15.4% during the second quarter. Boston Trust Walden Corp now owns 580,638 shares of the insurance provider's stock valued at $73,282,000 after buying an additional 77,417 shares during the period. TD Asset Management Inc lifted its position in American Financial Group by 2.5% during the second quarter. TD Asset Management Inc now owns 34,506 shares of the insurance provider's stock valued at $4,355,000 after buying an additional 826 shares during the period. Verdence Capital Advisors LLC lifted its position in American Financial Group by 10.1% during the second quarter. Verdence Capital Advisors LLC now owns 4,875 shares of the insurance provider's stock valued at $615,000 after buying an additional 449 shares during the period. Sequoia Financial Advisors LLC purchased a new position in American Financial Group during the second quarter valued at $439,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in American Financial Group by 28.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,163 shares of the insurance provider's stock valued at $1,409,000 after buying an additional 2,451 shares during the period. Hedge funds and other institutional investors own 64.37% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AFG shares. Wall Street Zen upgraded American Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Weiss Ratings restated a "hold (c+)" rating on shares of American Financial Group in a report on Wednesday, October 8th. Jefferies Financial Group raised their price target on American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods reduced 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. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, American Financial Group has an average rating of "Hold" and a consensus price target of $136.75.

Insider Buying and Selling

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of American Financial Group stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $134.31, for a total value of $1,343,100.00. Following the completion of the sale, the director directly owned 326,730 shares in the company, valued at approximately $43,883,106.30. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.40% of the company's stock.

American Financial Group Price Performance

NYSE AFG opened at $136.47 on Thursday. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.19. The stock has a 50-day moving average of $138.56 and a 200 day moving average of $129.91. The company has a market capitalization of $11.38 billion, a price-to-earnings ratio of 15.00 and a beta of 0.74. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47.

American Financial Group (NYSE:AFG - Get Free Report) last released 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. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%.The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $2.56 EPS. American Financial Group's revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts forecast that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Wednesday, October 15th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, October 15th. This is a positive change from American Financial Group's previous quarterly dividend of $0.80. American Financial Group's dividend payout ratio is 35.16%.

American Financial Group Company 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.

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