VIRGINIA RETIREMENT SYSTEMS ET Al Takes $20.56 Million Position in American Financial Group, Inc. $AFG

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al invested approximately $20.56 million in American Financial Group, acquiring 162,900 shares in the process.
• American Financial Group recently increased its quarterly dividend from $0.80 to $0.88 per share, reflecting a dividend yield of 2.7%.
• Analyst ratings for American Financial Group show a consensus rating of "Hold" with a price target of $136.75, indicating mixed market expectations.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 162,900 shares of the insurance provider's stock, valued at approximately $20,560,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.19% of American Financial Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Xponance Inc. raised its stake in American Financial Group by 0.7% during the first quarter. Xponance Inc. now owns 11,882 shares of the insurance provider's stock worth $1,561,000 after buying an additional 80 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its stake in American Financial Group by 4.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 1,727 shares of the insurance provider's stock worth $222,000 after buying an additional 81 shares during the last quarter. Diversified Trust Co raised its stake in American Financial Group by 4.6% during the second quarter. Diversified Trust Co now owns 2,356 shares of the insurance provider's stock worth $297,000 after buying an additional 103 shares during the last quarter. UMB Bank n.a. raised its stake in American Financial Group by 15.6% during the second quarter. UMB Bank n.a. now owns 776 shares of the insurance provider's stock worth $98,000 after buying an additional 105 shares during the last quarter. Finally, CX Institutional raised its stake in American Financial Group by 4.5% during the second quarter. CX Institutional now owns 2,839 shares of the insurance provider's stock worth $358,000 after buying an additional 122 shares during the last quarter. Institutional investors own 64.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AFG. Wall Street Zen raised shares of American Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of American Financial Group in a research note on Wednesday, October 8th. 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 note on Tuesday, August 12th. Finally, Jefferies Financial Group lifted 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 note on Monday, August 11th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, American Financial Group presently has an average rating of "Hold" and a consensus price target of $136.75.

Insider Activity

In other news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of American Financial Group stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.40% of the stock is owned by corporate insiders.

American Financial Group Trading Down 0.2%

AFG opened at $131.04 on Monday. American Financial Group, Inc. has a 1-year low of $114.73 and a 1-year high of $150.19. 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 company has a market cap of $10.93 billion, a P/E ratio of 14.40 and a beta of 0.74. The company has a fifty day moving average price of $138.66 and a two-hundred day moving average price of $129.89.

American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.77 billion. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The business's revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $2.56 earnings per share. Analysts predict that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.88 per share. 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%. The ex-dividend date is Wednesday, October 15th. American Financial Group's dividend payout ratio is 38.68%.

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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