Nuveen LLC Makes New $30.44 Million Investment in American Financial Group, Inc. $AFG

Key Points

• Nuveen LLC has acquired a new stake in American Financial Group, purchasing 231,782 shares valued at approximately $30.44 million, representing 0.28% of the company.
• Other institutional investors have significantly increased their positions in American Financial Group, with Charles Schwab raising its stake by 395.5% in the first quarter alone.
• Analysts have mixed ratings for the company, with an average target price of $136.75, and several firms adjusting their price objectives for AFG shares recently.

Nuveen LLC bought a new position in American Financial Group, Inc. (NYSE:AFG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 231,782 shares of the insurance provider's stock, valued at approximately $30,442,000. Nuveen LLC owned approximately 0.28% of American Financial Group at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Private Trust Co. NA raised its holdings in shares of American Financial Group by 144.3% in the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock worth $28,000 after buying an additional 127 shares in the last quarter. Natixis bought a new stake in American Financial Group during the 4th quarter worth approximately $47,000. Lazard Asset Management LLC bought a new stake in American Financial Group during the 4th quarter worth approximately $53,000. Headlands Technologies LLC bought a new stake in American Financial Group during the 1st quarter worth approximately $55,000. Finally, Costello Asset Management INC bought a new stake in American Financial Group during the 1st quarter worth approximately $68,000. 64.37% of the stock is owned by institutional investors and hedge funds.

American Financial Group Trading Up 1.3%

Shares of NYSE:AFG traded up $1.7860 during midday trading on Friday, hitting $134.8460. The company had a trading volume of 45,525 shares, compared to its average volume of 500,557. American Financial Group, Inc. has a 12 month low of $114.73 and a 12 month high of $150.19. 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 stock has a market cap of $11.24 billion, a price-to-earnings ratio of 14.83 and a beta of 0.74. The firm has a fifty day simple moving average of $126.82 and a 200 day simple moving average of $125.93.

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

American Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Tuesday, July 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, July 15th. American Financial Group's dividend payout ratio (DPR) is currently 35.16%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AFG shares. Wall Street Zen upgraded American Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods lowered their target price on 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. Finally, Jefferies Financial Group lifted their target price on American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, American Financial Group presently has a consensus rating of "Hold" and a consensus target price of $136.75.

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.