Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in American Financial Group, Inc. $AFG

Key Points

• Mirae Asset Global Investments increased its stake in American Financial Group (AFG) by 11.7%, bringing its total holdings to approximately $8.29 million.
• American Financial Group recently announced a quarterly dividend increase from $0.80 to $0.88, with a dividend yield of 2.4%.
• The company reported $2.14 EPS for the latest quarter, exceeding analysts' expectations, although revenue fell short of estimates at $1.65 billion.

Mirae Asset Global Investments Co. Ltd. boosted its stake in American Financial Group, Inc. (NYSE:AFG - Free Report) by 11.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,693 shares of the insurance provider's stock after purchasing an additional 6,872 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of American Financial Group worth $8,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Trust Co. NA raised its position in shares of American Financial Group by 144.3% during the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock valued at $28,000 after buying an additional 127 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in American Financial Group in the first quarter valued at $34,000. Headlands Technologies LLC purchased a new stake in American Financial Group during the first quarter valued at about $55,000. Costello Asset Management INC bought a new stake in American Financial Group during the first quarter worth about $68,000. Finally, UMB Bank n.a. boosted its holdings in shares of American Financial Group by 97.4% in the 1st quarter. UMB Bank n.a. now owns 671 shares of the insurance provider's stock worth $88,000 after purchasing an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company's stock.

American Financial Group Stock Performance

NYSE:AFG opened at $148.75 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.19. The firm has a market cap of $12.40 billion, a PE ratio of 16.35 and a beta of 0.74. The business has a 50 day moving average price of $135.76 and a 200-day moving average price of $129.14.

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

American Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Wednesday, October 15th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This is a boost from American Financial Group's previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. American Financial Group's payout ratio is 38.68%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AFG. Wall Street Zen raised American Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Weiss Ratings reissued a "hold (c+)" rating on shares of American Financial Group in a research note on Saturday, September 27th. Jefferies Financial Group upped their price objective on shares of American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating on the stock in a research report on Tuesday, August 12th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $136.75.

Insider Transactions at American Financial Group

In other American Financial Group 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 transaction of $1,343,100.00. Following the completion of the transaction, the director owned 326,730 shares of the company's stock, valued at $43,883,106.30. This represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 17.40% of the stock is currently owned by corporate insiders.

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.

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