Sequoia Financial Advisors LLC Takes $439,000 Position in American Financial Group, Inc. $AFG

Key Points

• Sequoia Financial Advisors LLC has acquired a new position in American Financial Group, investing approximately $439,000 to purchase 3,481 shares in the 2nd quarter.
• American Financial Group announced an increase in its quarterly dividend from $0.80 to $0.88, set to be paid on October 24th, representing an annualized yield of 2.7%.
• In its latest earnings report, American Financial Group reported earnings per share of $2.14, surpassing analysts' expectations of $2.08.

Sequoia Financial Advisors LLC bought a new position in shares of 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 (SEC). The fund bought 3,481 shares of the insurance provider's stock, valued at approximately $439,000.

Several other institutional investors have also recently added to or reduced their stakes in AFG. Wealth Enhancement Advisory Services LLC lifted its stake in American Financial Group by 31.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,389 shares of the insurance provider's stock worth $1,102,000 after purchasing an additional 2,006 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in American Financial Group by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 9,303 shares of the insurance provider's stock worth $1,221,000 after purchasing an additional 230 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in American Financial Group during the first quarter worth approximately $357,000. Cambridge Investment Research Advisors Inc. lifted its stake in American Financial Group by 1,113.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,796 shares of the insurance provider's stock worth $2,469,000 after purchasing an additional 17,247 shares during the last quarter. Finally, Valmark Advisers Inc. purchased a new stake in American Financial Group during the first quarter worth approximately $1,080,000. Hedge funds and other institutional investors own 64.37% of the company's stock.

Insider Activity

In other news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the business'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 value of $1,343,100.00. Following the transaction, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 17.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AFG. Keefe, Bruyette & Woods decreased 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. Wall Street Zen raised American Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Jefferies Financial Group lifted their price target on American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of American Financial Group in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $136.75.

American Financial Group Trading Down 0.4%

NYSE:AFG opened at $130.63 on Tuesday. The firm has a market cap of $10.89 billion, a P/E ratio of 14.35 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 stock's 50 day simple moving average is $138.71 and its 200-day simple moving average is $129.95. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19.

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

American Financial Group Increases Dividend

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

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.

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