Vanguard Personalized Indexing Management LLC Boosts Stake in American Financial Group, Inc. $AFG

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in American Financial Group by 28.1%, acquiring an additional 2,451 shares, bringing its total holding to 11,163 shares worth approximately $1.41 million.
• American Financial Group announced a quarterly dividend increase from $0.80 to $0.88 per share, representing an annual yield of 2.7%, with the next payout scheduled for October 24th.
• The company's recent earnings report showed $2.14 earnings per share, surpassing analysts' estimates and indicating a 9.21% net margin with a year-over-year revenue growth of 1.3%.

Vanguard Personalized Indexing Management LLC increased its stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 28.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,163 shares of the insurance provider's stock after purchasing an additional 2,451 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in American Financial Group were worth $1,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AFG. Private Trust Co. NA boosted its position in shares of American Financial Group by 144.3% during the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock worth $28,000 after purchasing an additional 127 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of American Financial Group during the 1st quarter worth approximately $34,000. Headlands Technologies LLC purchased a new position in shares of American Financial Group during the 1st quarter worth approximately $55,000. IFP Advisors Inc boosted its position in American Financial Group by 86.7% in the 2nd quarter. IFP Advisors Inc now owns 422 shares of the insurance provider's stock valued at $57,000 after buying an additional 196 shares during the period. Finally, Costello Asset Management INC purchased a new position in American Financial Group in the 1st quarter valued at approximately $68,000. Hedge funds and other institutional investors own 64.37% of the company's stock.

Insider Buying and Selling

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of American Financial Group stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total transaction of $1,343,100.00. Following the sale, the director directly owned 326,730 shares in the company, valued at $43,883,106.30. This trade represents a 2.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.40% of the stock is owned by corporate insiders.

American Financial Group Price Performance

Shares of AFG opened at $131.04 on Friday. American Financial Group, Inc. has a twelve month low of $114.73 and a twelve month high of $150.19. The firm's fifty day simple moving average is $138.66 and its 200-day simple moving average is $129.90. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 14.40 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.

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

American Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Wednesday, October 15th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, October 15th. This represents a $3.52 annualized dividend and a yield of 2.7%. This is an increase from American Financial Group's previous quarterly dividend of $0.80. American Financial Group's dividend payout ratio (DPR) is 38.68%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen raised shares of American Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Keefe, Bruyette & Woods decreased their price target on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a research report on Tuesday, August 12th. Jefferies Financial Group raised their price target on shares of American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of American Financial Group in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $136.75.

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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