United Services Automobile Association Invests $583,000 in American Financial Group, Inc. $AFG

Key Points

• United Services Automobile Association has acquired a new stake in American Financial Group, buying 4,485 shares valued at approximately $583,000.
• American Financial Group's stock is currently rated with an average of "Hold" from analysts and has a price target of $136.75.
• The company reported earnings of $2.14 per share for the latest quarter, surpassing estimates, although its revenue fell short at $1.65 billion.

United Services Automobile Association purchased a new position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,485 shares of the insurance provider's stock, valued at approximately $583,000.

Several other large investors have also bought and sold shares of the business. Sciencast Management LP acquired a new position in American Financial Group during the first quarter worth about $281,000. Goldman Sachs Group Inc. increased its position in American Financial Group by 8.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 707,682 shares of the insurance provider's stock worth $92,947,000 after purchasing an additional 54,204 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in American Financial Group by 145.8% in the 1st quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider's stock valued at $168,000 after purchasing an additional 758 shares during the last quarter. Millennium Management LLC boosted its position in American Financial Group by 166.7% in the first quarter. Millennium Management LLC now owns 280,012 shares of the insurance provider's stock valued at $36,777,000 after buying an additional 175,015 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of American Financial Group during the first quarter worth $2,330,000. 64.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total value of $1,343,100.00. Following the sale, the director directly owned 326,730 shares of the company's stock, valued at approximately $43,883,106.30. This represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 17.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AFG shares. Keefe, Bruyette & Woods dropped their price target 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 downgraded American Financial Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Finally, Jefferies Financial Group lifted their price target 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 research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $136.75.

American Financial Group Trading Down 0.2%

NYSE:AFG traded down $0.34 during trading hours on Friday, hitting $139.81. 309,913 shares of the company were exchanged, compared to its average volume of 403,792. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 15.36 and a beta of 0.73. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.19. The company has a fifty day simple moving average of $130.77 and a 200 day simple moving average of $127.28.

American Financial Group (NYSE:AFG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.06. The firm 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 business's revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.56 EPS. Sell-side analysts expect that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Tuesday, July 15th were issued 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%.

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.