Sound Income Strategies LLC Makes New $541,000 Investment in American Financial Group, Inc. (NYSE:AFG)

Sound Income Strategies LLC purchased a new position in American Financial Group, Inc. (NYSE:AFG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,122 shares of the insurance provider's stock, valued at approximately $541,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Natixis acquired a new stake in shares of American Financial Group during the fourth quarter worth $47,000. Lazard Asset Management LLC bought a new stake in American Financial Group during the fourth quarter worth approximately $53,000. Jones Financial Companies Lllp boosted its stake in American Financial Group by 91.2% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the insurance provider's stock valued at $71,000 after buying an additional 248 shares in the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of American Financial Group during the 4th quarter valued at about $73,000. Finally, UMB Bank n.a. grew its position in American Financial Group by 97.4% in the first quarter. UMB Bank n.a. now owns 671 shares of the insurance provider's stock worth $88,000 after buying an additional 331 shares during the last quarter. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their price target on shares of American Financial Group from $126.00 to $125.00 and set a "market perform" rating for the company in a research report on Friday, May 9th.

American Financial Group Stock Down 0.4%

Shares of AFG traded down $0.51 during midday trading on Tuesday, reaching $123.46. 696,128 shares of the stock were exchanged, compared to its average volume of 406,318. The firm has a 50 day simple moving average of $125.22 and a 200-day simple moving average of $129.12. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 12.97 and a beta of 0.72. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.34.

American Financial Group (NYSE:AFG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The insurance provider reported $1.81 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.36). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.74 billion. American Financial Group had a return on equity of 18.34% and a net margin of 9.66%. The business's revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.76 earnings per share. Research analysts forecast that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Tuesday, April 15th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Tuesday, April 15th. American Financial Group's dividend payout ratio is 33.61%.

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.