Milestone Asset Management LLC Makes New $777,000 Investment in American Financial Group, Inc. (NYSE:AFG)

Milestone Asset Management LLC acquired a new position in American Financial Group, Inc. (NYSE:AFG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,912 shares of the insurance provider's stock, valued at approximately $777,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AFG. Norges Bank purchased a new stake in American Financial Group in the fourth quarter worth about $122,419,000. Voya Investment Management LLC grew its holdings in American Financial Group by 89.5% in the fourth quarter. Voya Investment Management LLC now owns 672,851 shares of the insurance provider's stock worth $92,134,000 after purchasing an additional 317,859 shares during the period. Northern Trust Corp grew its holdings in American Financial Group by 35.8% in the fourth quarter. Northern Trust Corp now owns 802,069 shares of the insurance provider's stock worth $109,827,000 after purchasing an additional 211,630 shares during the period. Bank of New York Mellon Corp grew its holdings in American Financial Group by 26.2% in the fourth quarter. Bank of New York Mellon Corp now owns 997,340 shares of the insurance provider's stock worth $136,566,000 after purchasing an additional 207,285 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in American Financial Group in the fourth quarter worth about $20,675,000. Hedge funds and other institutional investors own 64.37% of the company's stock.

American Financial Group Stock Down 0.1%

Shares of NYSE:AFG traded down $0.08 during trading on Thursday, reaching $123.70. 242,100 shares of the stock traded hands, compared to its average volume of 394,507. The stock has a 50-day moving average of $125.38 and a two-hundred day moving average of $130.53. American Financial Group, Inc. has a 52-week low of $114.73 and a 52-week high of $150.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $10.35 billion, a P/E ratio of 11.70 and a beta of 0.72.

American Financial Group (NYSE:AFG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.36). American Financial Group had a return on equity of 20.30% and a net margin of 10.66%. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the prior year, the business posted $2.76 EPS. The company's revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Tuesday, April 15th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.59%. 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 cut their price target on shares of American Financial Group from $126.00 to $125.00 and set a "market perform" rating on the stock in a report on Friday, May 9th.

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.