AlphaQuest LLC Makes New Investment in American Financial Group, Inc. $AFG

AlphaQuest LLC acquired a new stake in shares of American Financial Group, Inc. (NYSE:AFG) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 5,558 shares of the insurance provider’s stock, valued at approximately $810,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AFG. Charles Schwab Investment Management Inc. lifted its position in American Financial Group by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,565,424 shares of the insurance provider’s stock valued at $323,782,000 after acquiring an additional 44,710 shares in the last quarter. Norges Bank purchased a new stake in shares of American Financial Group in the second quarter worth approximately $106,707,000. Johnson Investment Counsel Inc. lifted its holdings in shares of American Financial Group by 6.1% in the second quarter. Johnson Investment Counsel Inc. now owns 602,558 shares of the insurance provider’s stock valued at $76,049,000 after purchasing an additional 34,876 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of American Financial Group by 15.4% during the second quarter. Boston Trust Walden Corp now owns 580,638 shares of the insurance provider’s stock valued at $73,282,000 after buying an additional 77,417 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of American Financial Group by 29.6% during the second quarter. Ameriprise Financial Inc. now owns 424,723 shares of the insurance provider’s stock valued at $53,605,000 after buying an additional 97,102 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $130.00 on Tuesday. The company has a market capitalization of $10.84 billion, a P/E ratio of 13.66 and a beta of 0.71. The company’s 50-day moving average is $133.91 and its 200 day moving average is $135.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.55 and a current ratio of 0.55. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.02.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.34. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.02 billion. American Financial Group had a net margin of 9.66% and a return on equity of 18.05%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.31 earnings per share. On average, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, January 27th. Stockholders of record on Thursday, January 15th were paid a dividend of $0.88 per share. The ex-dividend date was Thursday, January 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.7%. American Financial Group’s dividend payout ratio (DPR) is presently 36.97%.

Wall Street Analyst Weigh In

AFG has been the subject of a number of analyst reports. Wells Fargo & Company started coverage on American Financial Group in a research report on Thursday, January 15th. They issued an “overweight” rating and a $165.00 price target for the company. Piper Sandler increased their target price on shares of American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Weiss Ratings cut shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $142.00 price objective on shares of American Financial Group in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, American Financial Group has a consensus rating of “Hold” and an average target price of $142.50.

Insider Activity at American Financial Group

In related news, CFO Brian S. Hertzman sold 1,777 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $142.51, for a total value of $253,240.27. Following the transaction, the chief financial officer owned 11,300 shares in the company, valued at approximately $1,610,363. This represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.40% of the company’s stock.

American Financial Group Profile

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.