Public Employees Retirement System of Ohio Takes $2.64 Million Position in American Financial Group, Inc. $AFG

Key Points

• Public Employees Retirement System of Ohio acquired 18,887 shares of American Financial Group worth approximately $2.64 million, while institutional investors collectively own 64.37% of the company.
• American Financial Group exceeded quarterly expectations, reporting $2.82 in EPS versus the $2.32 consensus and $2.03 billion in revenue, up 5.5% year over year.
• The company pays a quarterly dividend of $0.88 per share, or $3.52 annualized, representing a 2.5% yield; analysts maintain a consensus “Hold” rating with an average price target of $156.

Public Employees Retirement System of Ohio bought a new position in American Financial Group, Inc. (NYSE:AFG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,887 shares of the insurance provider's stock, valued at approximately $2,643,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in American Financial Group in the 2nd quarter valued at approximately $1,079,329,000. Norges Bank acquired a new position in American Financial Group during the 4th quarter worth approximately $114,661,000. Bank of New York Mellon Corp purchased a new position in shares of American Financial Group during the 2nd quarter worth approximately $102,590,000. Vestor Capital LLC raised its stake in shares of American Financial Group by 100,006.8% during the 4th quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider's stock worth $82,096,000 after buying an additional 600,041 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of American Financial Group in the 2nd quarter valued at approximately $53,939,000. Hedge funds and other institutional investors own 64.37% of the company's stock.

American Financial Group Price Performance

NYSE:AFG opened at $142.89 on Friday. The firm has a market cap of $11.85 billion, a price-to-earnings ratio of 12.49 and a beta of 0.60. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38. The company's 50-day moving average is $142.94 and its two-hundred day moving average is $135.40. American Financial Group, Inc. has a 12-month low of $123.09 and a 12-month high of $150.02.

American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.50. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.85 billion. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The company's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.14 earnings per share. Research analysts expect that American Financial Group, Inc. will post 12.13 EPS for the current year.

American Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. American Financial Group's dividend payout ratio (DPR) is 30.77%.

Insider Activity

In other American Financial Group news, insider David Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total value of $1,535,518.50. Following the completion of the sale, the insider directly owned 584,098 shares of the company's stock, valued at approximately $78,882,434.90. The trade was a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark Weiss sold 2,813 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the completion of the transaction, the vice president owned 6,648 shares of the company's stock, valued at $962,364.48. This trade represents a 29.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,380 shares of company stock valued at $2,390,788 over the last quarter. Insiders own 16.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AFG. Weiss Ratings upgraded American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods increased their price objective on American Financial Group from $148.00 to $153.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 11th. Wall Street Zen raised American Financial Group from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Piper Sandler boosted their target price on shares of American Financial Group from $140.00 to $156.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company upped their price target on shares of American Financial Group from $158.00 to $173.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $156.00.

About American Financial Group

American Financial Group, Inc NYSE: AFG is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.

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