Mutual of America Capital Management LLC Has $8.90 Million Stock Holdings in American Financial Group, Inc. $AFG

Key Points

• Mutual of America Capital Management LLC reduced its stake in American Financial Group, Inc. by 12.6%, now holding worth approximately $8.90 million as of the end of the recent reporting period.
• American Financial Group has declared an increase in its quarterly dividend to $0.88 per share, up from the previous $0.80, with an ex-dividend date on October 15.
• The company reported $2.14 earnings per share (EPS) for the last quarter, exceeding expectations, despite a revenue decline compared to analyst estimates.

Mutual of America Capital Management LLC decreased its holdings in American Financial Group, Inc. (NYSE:AFG - Free Report) by 12.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,528 shares of the insurance provider's stock after selling 10,150 shares during the quarter. Mutual of America Capital Management LLC owned 0.08% of American Financial Group worth $8,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. American Financial Group Inc. 401 K Retirement & Savings Plan raised its stake in American Financial Group by 0.9% in the 1st quarter. American Financial Group Inc. 401 K Retirement & Savings Plan now owns 2,616,928 shares of the insurance provider's stock worth $343,707,000 after purchasing an additional 23,228 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in American Financial Group by 395.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,520,714 shares of the insurance provider's stock worth $331,071,000 after purchasing an additional 2,012,027 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in American Financial Group by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 983,398 shares of the insurance provider's stock worth $129,147,000 after purchasing an additional 14,265 shares in the last quarter. Northern Trust Corp raised its stake in American Financial Group by 2.4% in the 1st quarter. Northern Trust Corp now owns 820,955 shares of the insurance provider's stock worth $107,824,000 after purchasing an additional 18,886 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in American Financial Group by 8.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 707,682 shares of the insurance provider's stock worth $92,947,000 after purchasing an additional 54,204 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company's stock.

Insider Activity

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of American Financial Group stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total transaction of $1,343,100.00. Following the sale, the director directly owned 326,730 shares of the company's stock, valued at approximately $43,883,106.30. The trade was a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 17.40% of the company's stock.

American Financial Group Trading Down 0.2%

Shares of American Financial Group stock opened at $131.04 on Monday. The firm has a market capitalization of $10.93 billion, a PE ratio of 14.40 and a beta of 0.74. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. The firm's 50 day moving average is $138.66 and its 200 day moving average is $129.89. 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 announced its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.06. The company had revenue of $1.65 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.56 EPS. Equities research analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Wednesday, October 15th will be issued a dividend of $0.88 per share. This is a boost from American Financial Group's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.7%. American Financial Group's payout ratio is presently 38.68%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AFG shares. Keefe, Bruyette & Woods dropped their price objective on shares of 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. Wall Street Zen upgraded shares of American Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Weiss Ratings restated a "hold (c+)" rating on shares of American Financial Group in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average 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.

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