Johnson Investment Counsel Inc. Buys 34,876 Shares of American Financial Group, Inc. $AFG

Key Points

• Johnson Investment Counsel Inc. increased its stake in American Financial Group by 6.1%, now holding 602,558 shares worth approximately $76 million.
• American Financial Group has raised its quarterly dividend from $0.80 to $0.88 per share, resulting in an annualized dividend yield of 2.6%.
• Analysts have given American Financial Group a consensus rating of "Hold" with a price target of $136.75, reflecting mixed sentiments about its stock performance.

Johnson Investment Counsel Inc. grew its stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 602,558 shares of the insurance provider's stock after buying an additional 34,876 shares during the period. Johnson Investment Counsel Inc. owned 0.72% of American Financial Group worth $76,049,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AFG. Private Trust Co. NA increased its position in shares of American Financial Group by 144.3% during the first quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock valued at $28,000 after buying an additional 127 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of American Financial Group during the first quarter valued at about $34,000. Headlands Technologies LLC bought a new position in shares of American Financial Group in the first quarter worth approximately $55,000. IFP Advisors Inc increased its position in shares of American Financial Group by 86.7% in the second quarter. IFP Advisors Inc now owns 422 shares of the insurance provider's stock worth $57,000 after purchasing an additional 196 shares during the last quarter. Finally, Costello Asset Management INC bought a new position in shares of American Financial Group in the first quarter worth approximately $68,000. 64.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on AFG shares. Jefferies Financial Group upped their price objective on shares of American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Wall Street Zen upgraded shares of American Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Keefe, Bruyette & Woods decreased their price objective on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating on the stock in a research report on Tuesday, August 12th. Finally, Weiss Ratings restated 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, American Financial Group presently has a consensus rating of "Hold" and a consensus price target of $136.75.

Insider Buying and Selling at American Financial Group

In other news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $134.31, for a total transaction of $1,343,100.00. Following the completion of the sale, the director owned 326,730 shares of the company's stock, valued at approximately $43,883,106.30. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 17.40% of the company's stock.

American Financial Group Stock Down 4.3%

Shares of AFG opened at $137.26 on Friday. The firm has a market cap of $11.45 billion, a P/E ratio of 15.08 and a beta of 0.74. The stock has a 50 day simple moving average of $137.76 and a two-hundred day simple moving average of $129.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.47 and a quick ratio of 0.47. 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 issued its earnings results 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 business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.77 billion. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%.American Financial Group's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.56 earnings per share. On average, analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from American Financial Group's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 15th. American Financial Group's payout ratio is currently 38.68%.

About American Financial Group

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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