American Financial Group, Inc. $AFG Shares Purchased by Viking Fund Management LLC

Viking Fund Management LLC grew its position in shares of American Financial Group, Inc. (NYSE:AFG) by 21.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 123,000 shares of the insurance provider’s stock after buying an additional 22,000 shares during the quarter. American Financial Group makes up approximately 1.4% of Viking Fund Management LLC’s portfolio, making the stock its 19th largest position. Viking Fund Management LLC’s holdings in American Financial Group were worth $16,821,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System acquired a new position in shares of American Financial Group in the first quarter valued at about $2,567,000. First Trust Advisors LP increased its position in American Financial Group by 433.2% during the first quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider’s stock worth $40,481,000 after acquiring an additional 257,522 shares during the period. Bank of Nova Scotia acquired a new stake in American Financial Group in the 2nd quarter worth about $6,760,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in American Financial Group in the 2nd quarter worth about $1,121,000. Finally, Y Intercept Hong Kong Ltd increased its position in American Financial Group by 281.1% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 28,243 shares of the insurance provider’s stock worth $3,607,000 after purchasing an additional 20,832 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

Insider Buying and Selling

In other American Financial Group news, VP Mark A. Weiss sold 2,813 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the completion of the transaction, the vice president directly owned 6,648 shares in the company, valued at approximately $962,364.48. This represents a 29.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian S. Hertzman sold 950 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $142.87, for a total transaction of $135,726.50. Following the transaction, the chief financial officer directly owned 11,123 shares of the company’s stock, valued at $1,589,143.01. The trade was a 7.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 16.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AFG. Wall Street Zen lowered shares of American Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Weiss Ratings upgraded shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Piper Sandler upped their price target on shares of American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Wells Fargo & Company dropped their price target on American Financial Group from $175.00 to $166.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Keefe, Bruyette & Woods cut their price objective on American Financial Group from $153.00 to $147.00 and set a “market perform” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $152.75.

American Financial Group Stock Performance

Shares of AFG stock opened at $145.57 on Thursday. The business’s 50-day moving average price is $142.44 and its 200-day moving average price is $137.71. American Financial Group, Inc. has a 12 month low of $123.09 and a 12 month high of $148.71. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 12.43 and a beta of 0.59. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.50. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm posted $2.14 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that American Financial Group, Inc. will post 12.29 EPS for the current year.

American Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Thursday, October 15th will be given a dividend of $0.97 per share. The ex-dividend date is Thursday, October 15th. This represents a $3.88 annualized dividend and a yield of 2.7%. This is a boost from American Financial Group’s previous quarterly dividend of $0.88. American Financial Group’s dividend payout ratio is 30.77%.

American Financial Group Company Profile

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group businesses, the company primarily provides property and casualty insurance products, with an emphasis on specialty commercial markets that require specialized underwriting expertise.

Its insurance offerings include coverage for commercial transportation, agriculture, workers’ compensation, excess and surplus risks, environmental exposures, inland marine, and other niche industries.