American Financial Group, Inc. $AFG Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in American Financial Group by 116.5%, acquiring an additional 7,975 shares during the first quarter, bringing its total holdings to 14,821 shares valued at approximately $1.95 million.
• Various institutional investors have recently engaged with American Financial Group, with TD Asset Management growing its stake by 8.5% and Cetera Investment Advisers increasing theirs by 153.1% during the same period.
• American Financial Group reported earnings of $2.14 per share for the latest quarter, exceeding estimates, but the company’s revenue was 1.3% higher year-over-year, totaling $1.65 billion.

LPL Financial LLC lifted its holdings in American Financial Group, Inc. (NYSE:AFG - Free Report) by 116.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,821 shares of the insurance provider's stock after purchasing an additional 7,975 shares during the period. LPL Financial LLC's holdings in American Financial Group were worth $1,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AFG. Xponance Inc. increased its stake in American Financial Group by 0.7% during the 1st quarter. Xponance Inc. now owns 11,882 shares of the insurance provider's stock worth $1,561,000 after buying an additional 80 shares in the last quarter. Astoria Portfolio Advisors LLC. increased its stake in American Financial Group by 4.9% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 1,727 shares of the insurance provider's stock worth $222,000 after buying an additional 81 shares in the last quarter. Utah Retirement Systems increased its stake in American Financial Group by 0.8% during the 4th quarter. Utah Retirement Systems now owns 11,917 shares of the insurance provider's stock worth $1,632,000 after buying an additional 100 shares in the last quarter. Private Trust Co. NA increased its stake in American Financial Group by 144.3% during the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock worth $28,000 after buying an additional 127 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its stake in American Financial Group by 4.9% during the 4th quarter. Johnson Financial Group Inc. now owns 3,101 shares of the insurance provider's stock worth $423,000 after buying an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company's stock.

American Financial Group Price Performance

Shares of American Financial Group stock traded up $0.68 on Tuesday, hitting $134.27. 422,276 shares of the company were exchanged, compared to its average volume of 446,653. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 14.75 and a beta of 0.74. The company has a 50-day moving average price of $127.45 and a 200 day moving average price of $126.00. American Financial Group, Inc. has a 1-year low of $114.73 and a 1-year high of $150.19. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33.

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

American Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were issued a $0.80 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. American Financial Group's dividend payout ratio is currently 35.16%.

Insider Buying and Selling

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the company's stock in a transaction that occurred on 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 transaction, the director directly owned 326,730 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 17.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wall Street Zen upgraded American Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods cut their price objective on American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group boosted their price objective on American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $136.75.

American Financial Group Company 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.