WBI Investments LLC Takes Position in American Financial Group, Inc. $AFG

Key Points

• WBI Investments LLC acquired a new position in American Financial Group, purchasing 2,298 shares valued at approximately $302,000, as reported in their recent Form 13F filing with the SEC.
• American Financial Group reported quarterly earnings of $2.14 per share, exceeding analysts' expectations of $2.08, despite revenues dropped to $1.65 billion against a forecast of $1.77 billion.
• The company declared a quarterly dividend of $0.80 per share, yielding 2.3% annually, with a payout ratio of 35.16% as of their last dividend payment on July 25th.

WBI Investments LLC acquired a new position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,298 shares of the insurance provider's stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Xponance Inc. grew its holdings in shares of 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 purchasing an additional 80 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its holdings in shares of 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 purchasing an additional 81 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of American Financial Group by 144.3% during the first quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock worth $28,000 after purchasing an additional 127 shares in the last quarter. Diversified Trust Co grew its holdings in shares of American Financial Group by 7.0% during the first quarter. Diversified Trust Co now owns 2,253 shares of the insurance provider's stock worth $296,000 after purchasing an additional 147 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of American Financial Group by 3.4% during the fourth quarter. Wellington Management Group LLP now owns 5,052 shares of the insurance provider's stock worth $692,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company's stock.

American Financial Group Stock Performance

NYSE:AFG opened at $140.24 on Friday. The firm has a market cap of $11.69 billion, a PE ratio of 15.41 and a beta of 0.73. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.19. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47. The business has a 50 day moving average price of $130.50 and a 200-day moving average price of $127.16.

American Financial Group (NYSE:AFG - Get Free Report) last released 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. The firm had revenue of $1.65 billion during 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 quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.56 earnings per share. Equities research analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, July 15th. American Financial Group's dividend payout ratio is 35.16%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen lowered American Financial Group from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Jefferies Financial Group upped their target price on American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods cut 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. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $136.75.

Insider Buying and Selling at American Financial Group

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the company'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 transaction of $1,343,100.00. Following the completion of the transaction, the director owned 326,730 shares in the company, valued at $43,883,106.30. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.40% of the company's stock.

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.

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