Corient Private Wealth LP Invests $3.73 Million in American Financial Group, Inc. $AFG

Key Points

• Corient Private Wealth acquired 26,616 shares of American Financial Group worth approximately $3.73 million, while institutional investors collectively own 64.37% of the company.
• American Financial Group reported quarterly EPS of $2.82, exceeding estimates of $2.32, while revenue rose 5.5% year over year to $2.03 billion.
• The company pays a quarterly dividend of $0.88, equivalent to an annualized $3.52 and a 2.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $156.

Corient Private Wealth LP acquired a new stake in American Financial Group, Inc. (NYSE:AFG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,616 shares of the insurance provider's stock, valued at approximately $3,725,000.

A number of other institutional investors have also modified their holdings of AFG. BlackRock Inc. acquired a new stake in American Financial Group during the 2nd quarter worth approximately $1,079,329,000. Charles Schwab Investment Management Inc. raised its holdings in American Financial Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,567,721 shares of the insurance provider's stock valued at $350,956,000 after buying an additional 57,246 shares during the period. Geode Capital Management LLC lifted its position in American Financial Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,732,557 shares of the insurance provider's stock valued at $236,645,000 after buying an additional 29,731 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in American Financial Group by 19.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,506,510 shares of the insurance provider's stock valued at $192,395,000 after buying an additional 240,509 shares in the last quarter. Finally, Northern Trust Corp grew its stake in American Financial Group by 33.2% during the third quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider's stock worth $149,623,000 after buying an additional 255,693 shares during the period. Hedge funds and other institutional investors own 64.37% of the company's stock.

American Financial Group Stock Performance

American Financial Group stock opened at $142.00 on Wednesday. The firm has a market capitalization of $11.77 billion, a PE ratio of 12.41 and a beta of 0.60. American Financial Group, Inc. has a one year low of $123.09 and a one year high of $150.02. The stock's 50 day moving average price is $142.60 and its 200 day moving average price is $135.14. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49.

American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.85 billion. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. American Financial Group's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $2.14 earnings per share. As a group, sell-side analysts expect that American Financial Group, Inc. will post 12.13 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were paid a $0.88 dividend. The ex-dividend date 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 30.77%.

Insider Activity at American Financial Group

In other American Financial Group news, VP Mark A. Weiss sold 2,813 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the transaction, the vice president owned 6,648 shares in the company, valued at $962,364.48. The trade was a 29.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the completion of the transaction, the insider directly owned 584,098 shares of the company's stock, valued at approximately $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,430 shares of company stock valued at $2,255,061. Corporate insiders own 16.90% of the company's stock.

Wall Street Analyst Weigh In

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

American Financial Group 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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