California State Teachers Retirement System Acquires 10,689,563 Shares of American Financial Group, Inc. $AFG

California State Teachers Retirement System boosted its stake in American Financial Group, Inc. (NYSE:AFG - Free Report) by 13,419.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,769,223 shares of the insurance provider's stock after purchasing an additional 10,689,563 shares during the quarter. California State Teachers Retirement System owned about 12.99% of American Financial Group worth $1,507,045,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AFG. Cassaday & Co Wealth Management LLC bought a new position in American Financial Group in the first quarter worth approximately $26,000. Global Retirement Partners LLC increased its position in shares of American Financial Group by 904.8% during the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider's stock worth $29,000 after acquiring an additional 190 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of American Financial Group by 87.7% in the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider's stock worth $35,000 after acquiring an additional 121 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of American Financial Group in the 2nd quarter worth about $42,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in American Financial Group in the 2nd quarter valued at about $46,000. 64.37% of the stock is owned by institutional investors.

American Financial Group Stock Performance

NYSE:AFG opened at $141.88 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38. The business's 50-day moving average price is $142.96 and its two-hundred day moving average price is $135.80. The stock has a market cap of $11.77 billion, a P/E ratio of 12.40 and a beta of 0.60. American Financial Group, Inc. has a twelve month low of $123.09 and a twelve month high of $150.02.

American Financial Group (NYSE:AFG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.50. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business posted $2.14 earnings per share. American Financial Group's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts predict that American Financial Group, Inc. will post 12.13 EPS for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. American Financial Group's dividend payout ratio (DPR) is 30.77%.

Insider Buying and Selling at American Financial Group

In related news, CFO Brian Hertzman sold 950 shares of American Financial Group stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $142.87, for a total value of $135,726.50. Following the transaction, the chief financial officer owned 11,123 shares in the company, valued at $1,589,143.01. This trade represents a 7.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michelle Gillis sold 2,247 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total transaction of $312,333.00. Following the completion of the sale, the senior vice president directly owned 13,135 shares of the company's stock, valued at $1,825,765. This represents a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,380 shares of company stock worth $2,390,788 over the last 90 days. Company insiders own 16.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AFG. Wells Fargo & Company raised their target price on American Financial Group from $158.00 to $173.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Weiss Ratings upgraded shares of American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Piper Sandler raised their target price on American Financial Group from $140.00 to $156.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Wall Street Zen lowered shares of American Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods upped their price target on shares of American Financial Group from $148.00 to $153.00 and gave the company a "market perform" rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $156.00.

About American Financial Group

American Financial Group, Inc NYSE: AFG is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group subsidiaries, the company primarily underwrites specialty property and casualty insurance and sells annuity products.

Its property and casualty operations serve businesses, organizations and individuals through specialized products that include commercial transportation, agricultural and crop insurance, workers' compensation, casualty coverage, financial institution insurance, surety and fidelity bonds, marine insurance, travel insurance and public-sector coverage.

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