Jupiter Topco LLC Invests $4.27 Million in American Financial Group, Inc. $AFG

Key Points

• Jupiter Topco acquired 30,500 shares of American Financial Group worth approximately $4.27 million in the second quarter. Institutional investors collectively own 64.37% of the insurer’s stock.
• 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.
• Analysts maintain a generally neutral outlook, with an average “Hold” rating and a $156 price target. The company also pays a quarterly dividend of $0.88, representing a 2.5% annualized yield.

Jupiter Topco LLC bought a new position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,500 shares of the insurance provider's stock, valued at approximately $4,267,000.

Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in American Financial Group in the 2nd quarter worth approximately $1,079,329,000. Norges Bank acquired a new stake in shares of American Financial Group during the 4th quarter worth approximately $114,661,000. Bank of New York Mellon Corp purchased a new position in shares of American Financial Group during the 2nd quarter valued at approximately $102,590,000. Vestor Capital LLC increased its holdings in shares of American Financial Group by 100,006.8% during the 4th quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider's stock valued at $82,096,000 after purchasing an additional 600,041 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of American Financial Group by 337.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider's stock valued at $55,061,000 after purchasing an additional 332,517 shares during the period. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

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

American Financial Group Stock Performance

NYSE:AFG opened at $142.00 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49. The company has a fifty day moving average of $142.60 and a two-hundred day moving average of $135.14. The stock 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 fifty-two week low of $123.09 and a fifty-two week high of $150.02.

American Financial Group (NYSE:AFG - Get Free Report) last announced its earnings results 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.85 billion. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.14 earnings per share. As a group, research analysts forecast that American Financial Group, Inc. will post 12.13 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

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

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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