Entropy Technologies LP Invests $2.46 Million in American Financial Group, Inc. $AFG

Key Points

• Entropy Technologies LP acquired 19,284 shares of American Financial Group worth approximately $2.46 million during the first quarter. Institutional investors and hedge funds collectively own 64.37% of AFG’s outstanding shares.
• American Financial Group reported first-quarter EPS of $2.47, below the $2.54 consensus estimate, while revenue of $1.85 billion exceeded expectations. Analysts expect full-year earnings of approximately $11.37 per share.
• The company maintains a quarterly dividend of $0.88, equivalent to $3.52 annually and a 2.5% yield. Analysts’ consensus rating is Hold, with an average price target of $150.75 compared with the stock’s recent price of $143.51.

Entropy Technologies LP purchased a new stake in American Financial Group, Inc. (NYSE:AFG - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 19,284 shares of the insurance provider's stock, valued at approximately $2,463,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in American Financial Group in the first quarter worth $6,513,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of American Financial Group by 337.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider's stock worth $55,061,000 after purchasing an additional 332,517 shares during the period. Caxton Associates LLP acquired a new stake in shares of American Financial Group during the first quarter worth $482,000. Inceptionr LLC bought a new position in shares of American Financial Group in the 1st quarter worth about $1,836,000. Finally, Sei Investments Co. lifted its position in shares of American Financial Group by 13.7% in the 1st quarter. Sei Investments Co. now owns 22,552 shares of the insurance provider's stock worth $2,880,000 after buying an additional 2,726 shares during the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

American Financial Group Stock Performance

Shares of AFG opened at $143.51 on Monday. American Financial Group, Inc. has a 1 year low of $122.11 and a 1 year high of $150.02. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 13.64 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a fifty day moving average of $136.83 and a 200-day moving average of $132.52.

American Financial Group (NYSE:AFG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.07). American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company posted $1.81 EPS. The firm's revenue was down .1% on a year-over-year basis. As a group, equities analysts anticipate that American Financial Group, Inc. will post 11.37 earnings per share for the current year.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th were given a $0.88 dividend. 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 dividend payout ratio is 33.46%.

Analysts Set New Price Targets

Several research analysts have recently commented on AFG shares. Wells Fargo & Company lifted their price target on shares of American Financial Group from $158.00 to $173.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Piper Sandler increased their price objective on shares of American Financial Group from $135.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods raised their target price on shares of American Financial Group from $140.00 to $148.00 and gave the stock a "market perform" rating in a report on Wednesday, July 8th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of American Financial Group in a research note on Thursday, June 11th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $150.75.

Insider Activity

In other news, SVP Michelle A. Gillis sold 2,247 shares of American Financial Group stock in a transaction that occurred 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 sale, the senior vice president owned 13,135 shares of the company's stock, valued at approximately $1,825,765. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the business's stock in a transaction that occurred on 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 transaction, the insider owned 584,098 shares of the company's stock, valued at approximately $78,882,434.90. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 16.90% of the stock is currently owned by corporate insiders.

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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