The Manufacturers Life Insurance Company Purchases 8,220 Shares of American Financial Group, Inc. $AFG

The Manufacturers Life Insurance Company increased its position in shares of American Financial Group, Inc. (NYSE:AFG) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,888 shares of the insurance provider’s stock after purchasing an additional 8,220 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.18% of American Financial Group worth $19,398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of American Financial Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,567,721 shares of the insurance provider’s stock worth $350,956,000 after buying an additional 57,246 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of American Financial Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,732,557 shares of the insurance provider’s stock worth $236,645,000 after acquiring an additional 29,731 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in American Financial Group by 19.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,506,510 shares of the insurance provider’s stock valued at $192,395,000 after purchasing an additional 240,509 shares in the last quarter. Northern Trust Corp grew its holdings in shares of American Financial Group by 33.2% during the third quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock worth $149,623,000 after purchasing an additional 255,693 shares during the last quarter. Finally, Morgan Stanley grew its holdings in American Financial Group by 4.3% during the 4th quarter. Morgan Stanley now owns 894,998 shares of the insurance provider’s stock worth $122,329,000 after acquiring an additional 36,971 shares during the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Financial Group news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the completion of the transaction, the insider owned 584,098 shares of the company’s stock, valued at $78,882,434.90. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michelle A. Gillis sold 2,247 shares of American Financial Group stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total transaction of $312,333.00. Following the completion of the sale, the senior vice president owned 13,135 shares in the company, valued at $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 16.90% of the company’s stock.

American Financial Group Price Performance

NYSE AFG opened at $141.72 on Friday. The business has a 50 day simple moving average of $137.47 and a 200 day simple moving average of $132.87. American Financial Group, Inc. has a 52-week low of $122.11 and a 52-week high of $150.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market cap of $11.78 billion, a price-to-earnings ratio of 13.47 and a beta of 0.62.

American Financial Group (NYSE:AFG) last announced its earnings results on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.07). American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business posted $1.81 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. Analysts anticipate that American Financial Group, Inc. will post 11.37 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. American Financial Group’s dividend payout ratio is currently 33.46%.

Analyst Ratings Changes

AFG has been the subject of several research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a research note on Thursday, June 11th. Wells Fargo & Company lifted their price target on shares of American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods boosted their price target on shares of American Financial Group from $140.00 to $148.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Finally, Piper Sandler upped their price objective on shares of American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $150.75.

About American Financial Group

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.