M Holdings Securities Inc. Buys New Position in American Financial Group, Inc. $AFG

Key Points

• M Holdings Securities opened a position in American Financial Group, buying 16,324 shares valued at approximately $2.24 million during the third quarter.
• AFG reported quarterly earnings of $3.97 per share, beating estimates of $3.80, while revenue of $2.58 billion also exceeded expectations.
• The company announced a $3.50 special dividend. Analysts have a consensus “Hold” rating and an average price target of $156.25.

M Holdings Securities Inc. bought a new stake in American Financial Group, Inc. (NYSE:AFG - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,324 shares of the insurance provider's stock, valued at approximately $2,242,000.

Several other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of American Financial Group in the second quarter valued at approximately $1,079,329,000. Bank of New York Mellon Corp bought a new position in American Financial Group during the second quarter worth $102,590,000. Bank of America Corp DE bought a new position in American Financial Group during the second quarter worth $53,939,000. Arrowstreet Capital Limited Partnership raised its stake in American Financial Group by 337.1% during 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 last quarter. Finally, First Trust Advisors LP raised its stake in American Financial Group by 433.2% during the 1st quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider's stock valued at $40,481,000 after purchasing an additional 257,522 shares during the last quarter. 64.37% of the stock is owned by institutional investors.

Insider Buying and Selling at American Financial Group

In other news, CFO Brian Hertzman sold 950 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total value of $135,726.50. Following the completion of the transaction, the chief financial officer directly owned 11,123 shares of the company's stock, valued at approximately $1,589,143.01. This represents a 7.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 16.90% of the company's stock.

Analyst Ratings Changes

AFG has been the topic of several research analyst reports. Piper Sandler raised their price target on shares of American Financial Group from $140.00 to $156.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Wells Fargo & Company boosted their price objective on shares of American Financial Group from $166.00 to $180.00 and gave the stock an "overweight" rating in a report on Thursday. Wall Street Zen lowered shares of American Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings upgraded shares of American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods decreased their target price on American Financial Group from $153.00 to $147.00 and set a "market perform" rating on the stock in a research report on Monday, October 12th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $156.25.

American Financial Group Stock Up 0.0%

AFG opened at $154.57 on Monday. American Financial Group, Inc. has a fifty-two week low of $123.09 and a fifty-two week high of $159.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.52 and a quick ratio of 0.52. The firm's fifty day moving average price is $144.87 and its two-hundred day moving average price is $137.00. The company has a market capitalization of $12.79 billion, a P/E ratio of 12.61 and a beta of 0.55.

American Financial Group (NYSE:AFG - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $3.97 EPS for the quarter, topping analysts' consensus estimates of $3.80 by $0.17. American Financial Group had a net margin of 11.96% and a return on equity of 22.56%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm earned $2.69 EPS. On average, analysts anticipate that American Financial Group, Inc. will post 12.29 EPS for the current year.

American Financial Group Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a $3.50 dividend. The ex-dividend date is Monday, November 16th. American Financial Group's dividend payout ratio is currently 31.65%.

American Financial Group Profile

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through Great American Insurance Group, it provides property and casualty insurance, with a focus on specialty commercial markets and coverage tailored to specific industries and customer needs.

Its products include insurance for businesses, farms and agricultural operations, and individuals, offered through a network of independent agents and brokers. AFG's insurance operations serve customers primarily in the United States, with some products and services available internationally.

The company traces its roots to 1959, while its Great American Insurance Company subsidiary was founded in 1872.

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