Deutsche Bank AG Acquires New Shares in American Financial Group, Inc. $AFG

Key Points

• Deutsche Bank acquired 8,498 shares of American Financial Group in the second quarter, worth approximately $1.19 million. Institutional investors collectively own 64.37% of AFG.
• American Financial Group reported quarterly EPS of $2.82, exceeding the $2.32 consensus estimate, while revenue rose 5.5% year over year to $2.03 billion.
• AFG pays a quarterly dividend of $0.88 per share, equivalent to a 2.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $156, compared with shares recently trading at $143.55.

Deutsche Bank AG acquired a new position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,498 shares of the insurance provider's stock, valued at approximately $1,189,000.

Several other large investors have also recently modified their holdings of the business. Cassaday & Co Wealth Management LLC bought a new stake in shares of American Financial Group during the 1st quarter valued at about $26,000. Global Retirement Partners LLC raised its holdings in 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 buying an additional 190 shares during 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. Los Angeles Capital Management LLC purchased a new stake in shares of American Financial Group in the fourth quarter worth approximately $45,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in American Financial Group during the 2nd quarter valued at $46,000. Institutional investors own 64.37% of the company's stock.

American Financial Group Stock Performance

Shares of NYSE AFG opened at $143.55 on Monday. The company has a market cap of $11.90 billion, a PE ratio of 12.55 and a beta of 0.62. American Financial Group, Inc. has a 52-week low of $123.09 and a 52-week high of $150.02. 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 firm's 50-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 earnings per share for the quarter, topping 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 firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the prior year, the business earned $2.14 EPS. The business's quarterly revenue was up 5.5% on a year-over-year basis. As a group, analysts anticipate that American Financial Group, Inc. will post 12.13 EPS for the current year.

American Financial Group Announces Dividend

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

Insider Buying and Selling at American Financial Group

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

Wall Street Analysts Forecast Growth

AFG has been the topic of several research analyst reports. Piper Sandler boosted their price objective 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 upgraded shares of American Financial Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods increased their price objective on American Financial Group from $148.00 to $153.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, American Financial Group has a consensus rating of "Hold" and a consensus price target of $156.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source