Reinhart Partners LLC. Has $6.79 Million Position in American Financial Group, Inc. $AFG

Key Points

• Reinhart Partners LLC reduced its stake in American Financial Group by 9.0%, now holding 53,812 shares valued at approximately $6.79 million.
• American Financial Group recently reported an EPS of $2.14 for the quarter, outperforming estimates, but had revenue of $1.65 billion, falling short of expectations.
• The company declared a quarterly dividend of $0.80 per share, yielding 2.3%, with a dividend payout ratio of 35.16%.

Reinhart Partners LLC. reduced its stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 9.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,812 shares of the insurance provider's stock after selling 5,301 shares during the quarter. Reinhart Partners LLC. owned 0.06% of American Financial Group worth $6,792,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in American Financial Group by 31.9% during the second quarter. Parallel Advisors LLC now owns 2,198 shares of the insurance provider's stock worth $277,000 after acquiring an additional 532 shares in the last quarter. Strs Ohio acquired a new position in American Financial Group during the first quarter worth $1,819,000. WBI Investments LLC acquired a new stake in shares of American Financial Group in the first quarter valued at $302,000. Focus Partners Wealth increased its stake in shares of American Financial Group by 50.5% in the first quarter. Focus Partners Wealth now owns 41,374 shares of the insurance provider's stock valued at $5,434,000 after buying an additional 13,886 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of American Financial Group in the first quarter valued at $583,000. 64.37% of the stock is currently owned by institutional investors and hedge funds.

American Financial Group Trading Down 0.5%

NYSE:AFG opened at $138.68 on Wednesday. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.19. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $11.56 billion, a PE ratio of 15.24 and a beta of 0.73. The business's 50-day simple moving average is $131.29 and its 200-day simple moving average is $127.50.

American Financial Group (NYSE:AFG - Get Free Report) last released its earnings results on Tuesday, August 5th. The insurance provider reported $2.14 EPS for the quarter, beating 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 firm had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the business posted $2.56 EPS. The business's quarterly revenue was up 1.3% compared to the same quarter last year. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Tuesday, July 15th were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, July 15th. This represents a $3.20 annualized dividend and a yield of 2.3%. American Financial Group's dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Jefferies Financial Group raised 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. 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, Wall Street Zen upgraded American Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $136.75.

Insiders Place Their Bets

In other American Financial Group news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction 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 transaction, the director owned 326,730 shares in the company, valued at $43,883,106.30. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.40% of the stock is owned by insiders.

American Financial Group 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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