Merit Financial Group LLC Takes $504,000 Position in American Financial Group, Inc. (NYSE:AFG)

Merit Financial Group LLC bought a new position in American Financial Group, Inc. (NYSE:AFG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,837 shares of the insurance provider's stock, valued at approximately $504,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Milestone Asset Management LLC purchased a new position in shares of American Financial Group in the 1st quarter worth $777,000. Parallel Advisors LLC lifted its holdings in shares of American Financial Group by 256.0% in the 1st quarter. Parallel Advisors LLC now owns 1,666 shares of the insurance provider's stock valued at $219,000 after acquiring an additional 1,198 shares during the last quarter. GAMMA Investing LLC grew its position in American Financial Group by 11,148.8% in the first quarter. GAMMA Investing LLC now owns 119,125 shares of the insurance provider's stock worth $15,646,000 after acquiring an additional 118,066 shares in the last quarter. Wellington Management Group LLP increased its stake in American Financial Group by 3.4% during the fourth quarter. Wellington Management Group LLP now owns 5,052 shares of the insurance provider's stock worth $692,000 after acquiring an additional 164 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in American Financial Group by 5.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,383 shares of the insurance provider's stock valued at $874,000 after purchasing an additional 309 shares during the period. 64.37% of the stock is owned by institutional investors.

American Financial Group Trading Up 1.9%

Shares of AFG traded up $2.34 during midday trading on Thursday, hitting $125.29. The stock had a trading volume of 456,408 shares, compared to its average volume of 401,086. The stock's 50 day moving average is $124.99 and its 200 day moving average is $129.75. The firm has a market cap of $10.48 billion, a PE ratio of 11.85 and a beta of 0.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.53. 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 quarterly earnings results on Tuesday, May 6th. The insurance provider reported $1.81 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.36). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.74 billion. American Financial Group had a net margin of 10.66% and a return on equity of 20.30%. The business's revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.76 earnings per share. As a group, analysts forecast that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Tuesday, April 15th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Tuesday, April 15th. American Financial Group's dividend payout ratio is currently 33.61%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods dropped their target price on American Financial Group from $126.00 to $125.00 and set a "market perform" rating for the company in a report on Friday, May 9th.

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.