Forefront Analytics LLC Buys New Position in American Financial Group, Inc. $AFG

Key Points

• Forefront Analytics LLC has purchased a new stake in American Financial Group, acquiring 10,118 shares valued at approximately $1.28 million in the 2nd quarter.
• American Financial Group recently increased its quarterly dividend from $0.80 to $0.88, representing a 2.6% yield for investors while the payout ratio stands at 35.16%.
• Despite positive quarterly earnings exceeding estimates, shares of American Financial Group dropped 4.3%, with a current stock price of $137.26.

Forefront Analytics LLC bought a new stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,118 shares of the insurance provider's stock, valued at approximately $1,277,000.

Several other large investors have also bought and sold shares of AFG. Charles Schwab Investment Management Inc. boosted its stake in American Financial Group by 395.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,520,714 shares of the insurance provider's stock valued at $331,071,000 after buying an additional 2,012,027 shares in the last quarter. AQR Capital Management LLC boosted its stake in American Financial Group by 240.0% during the first quarter. AQR Capital Management LLC now owns 585,841 shares of the insurance provider's stock valued at $76,821,000 after buying an additional 413,516 shares in the last quarter. Nuveen LLC bought a new position in American Financial Group during the first quarter valued at about $30,442,000. Millennium Management LLC boosted its stake in American Financial Group by 166.7% during the first quarter. Millennium Management LLC now owns 280,012 shares of the insurance provider's stock valued at $36,777,000 after buying an additional 175,015 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in American Financial Group by 112.5% during the first quarter. Ameriprise Financial Inc. now owns 327,621 shares of the insurance provider's stock valued at $43,030,000 after buying an additional 173,452 shares in the last quarter. Institutional investors own 64.37% of the company's stock.

Insider Transactions at American Financial Group

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $134.31, for a total value of $1,343,100.00. Following the completion of the sale, the director directly owned 326,730 shares of the company's stock, valued at approximately $43,883,106.30. This represents a 2.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.40% of the company's stock.

American Financial Group Stock Down 4.3%

Shares of American Financial Group stock opened at $137.26 on Friday. The stock has a 50-day moving average price of $137.76 and a 200 day moving average price of $129.71. The company has a market cap of $11.45 billion, a P/E ratio of 15.08 and a beta of 0.74. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. American Financial Group, Inc. has a 1 year low of $114.73 and a 1 year high of $150.19.

American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.77 billion. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%.The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.56 EPS. As a group, analysts expect that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Wednesday, October 15th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $3.52 annualized dividend and a yield of 2.6%. This is an increase from American Financial Group's previous quarterly dividend of $0.80. American Financial Group's dividend payout ratio (DPR) is currently 35.16%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AFG. Jefferies Financial Group raised their target price on American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods decreased their price target on American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a research report on Tuesday, August 12th. Wall Street Zen upgraded American Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of American Financial Group in a research report on Wednesday. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $136.75.

American Financial Group Profile

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers' compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.

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