Connor Clark & Lunn Investment Management Ltd. Invests $1.12 Million in American Financial Group, Inc. $AFG

Key Points

• Connor Clark & Lunn Investment Management purchased 8,011 shares of American Financial Group worth approximately $1.12 million, while institutional investors collectively own 64.37% of the company.
• Analyst sentiment remains mixed: two analysts rate AFG a Buy and three rate it Hold, producing an overall “Hold” rating and an average price target of $156.
• American Financial Group exceeded quarterly expectations with earnings of $2.82 per share versus the $2.32 estimate and revenue of $2.03 billion. The company also maintains a quarterly dividend of $0.88 per share, representing a 2.5% yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,011 shares of the insurance provider's stock, valued at approximately $1,121,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AFG. Cassaday & Co Wealth Management LLC bought a new stake in shares of American Financial Group in the 1st quarter worth $26,000. Global Retirement Partners LLC lifted its holdings 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 valued at $29,000 after purchasing an additional 190 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of American Financial Group by 87.7% during the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 121 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new position in shares of American Financial Group during the second quarter valued at $42,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of American Financial Group during the fourth quarter valued at $45,000. Institutional investors own 64.37% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AFG. Keefe, Bruyette & Woods lifted their price objective on American Financial Group from $148.00 to $153.00 and gave the stock a "market perform" rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of American Financial Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Wells Fargo & Company lifted their price target on shares of American Financial Group from $158.00 to $173.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, Piper Sandler boosted their price objective on shares of American Financial Group from $140.00 to $156.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $156.00.

Insider Activity

In related news, SVP Michelle A. Gillis sold 2,247 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The shares were 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 in the company, valued at approximately $1,825,765. The trade was a 14.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Mark A. Weiss sold 2,813 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total transaction of $407,209.88. Following the sale, the vice president owned 6,648 shares of the company's stock, valued at $962,364.48. This trade represents a 29.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,430 shares of company stock valued at $2,255,061 in the last quarter. 16.90% of the stock is currently owned by insiders.

American Financial Group Stock Performance

AFG stock opened at $143.55 on Monday. The company has a market cap of $11.90 billion, a P/E ratio of 12.55 and a beta of 0.62. American Financial Group, Inc. has a 1 year low of $123.09 and a 1 year high of $150.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49. The stock's fifty day moving average price is $142.33 and its 200-day moving average price is $134.96.

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

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were given 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 is presently 30.77%.

American Financial Group Company Profile

American Financial Group, Inc NYSE: AFG is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.

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