Lord Abbett & CO. LLC Has $54.15 Million Stake in American Financial Group, Inc. (NYSE:AFG)

Lord Abbett & CO. LLC cut its stake in American Financial Group, Inc. (NYSE:AFG - Free Report) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 395,437 shares of the insurance provider's stock after selling 3,740 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.47% of American Financial Group worth $54,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AFG. Voya Investment Management LLC raised its stake in shares of American Financial Group by 89.5% in the 4th quarter. Voya Investment Management LLC now owns 672,851 shares of the insurance provider's stock valued at $92,134,000 after acquiring an additional 317,859 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of American Financial Group by 32.2% in the fourth quarter. Hsbc Holdings PLC now owns 242,412 shares of the insurance provider's stock valued at $33,190,000 after purchasing an additional 59,002 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of American Financial Group by 127.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,175 shares of the insurance provider's stock worth $1,256,000 after purchasing an additional 5,139 shares during the last quarter. Natixis bought a new stake in American Financial Group during the 4th quarter valued at approximately $47,000. Finally, MetLife Investment Management LLC increased its position in American Financial Group by 9.1% in the 4th quarter. MetLife Investment Management LLC now owns 40,682 shares of the insurance provider's stock worth $5,571,000 after buying an additional 3,394 shares during the period. 64.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Financial Group

In related news, Director Gregory G. Joseph purchased 3,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of $121.00 per share, with a total value of $363,000.00. Following the purchase, the director now directly owns 57,477 shares in the company, valued at $6,954,717. This represents a 5.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.40% of the stock is currently owned by insiders.

American Financial Group Stock Performance

American Financial Group stock traded up $0.13 during trading hours on Thursday, hitting $126.79. The stock had a trading volume of 222,721 shares, compared to its average volume of 372,705. The company has a 50-day moving average of $126.23 and a two-hundred day moving average of $132.24. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31. 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 market cap of $10.61 billion, a PE ratio of 11.99 and a beta of 0.59.

American Financial Group (NYSE:AFG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The insurance provider reported $3.12 EPS for the quarter, missing analysts' consensus estimates of $3.15 by ($0.03). American Financial Group had a net margin of 10.66% and a return on equity of 20.30%. On average, equities research analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $3.20 annualized dividend and a dividend yield of 2.52%. American Financial Group's dividend payout ratio (DPR) is currently 30.27%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods dropped their target price on shares of American Financial Group from $144.00 to $126.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th.

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.