Callan Family Office LLC Takes $578,000 Position in American Financial Group, Inc. $AFG

Callan Family Office LLC bought a new position in American Financial Group, Inc. (NYSE:AFG) during the 2nd quarter, HoldingsChannel reports. The fund bought 4,127 shares of the insurance provider’s stock, valued at approximately $578,000.

Other hedge funds have also made changes to their positions in the company. Keating Financial Advisory Services Inc. bought a new position in American Financial Group during the 2nd quarter valued at about $42,000. Allworth Financial LP bought a new stake in American Financial Group during the second quarter worth about $7,187,000. Johnson Financial Group Inc. bought a new stake in American Financial Group during the second quarter worth about $333,000. West Family Investments Inc. acquired a new stake in shares of American Financial Group during the second quarter worth approximately $311,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of American Financial Group during the second quarter worth approximately $399,000. Institutional investors and hedge funds own 64.37% of the company’s stock.

Wall Street Analysts Forecast Growth

AFG has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler raised their price target on American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Weiss Ratings raised American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded American Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on American Financial Group from $148.00 to $153.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, American Financial Group currently has an average rating of “Hold” and an average target price of $156.00.

Insider Activity

In related news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the completion of the sale, the insider directly owned 584,098 shares of the company’s stock, valued at $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Mark A. Weiss sold 2,813 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the transaction, the vice president owned 6,648 shares in the company, valued at $962,364.48. This represents a 29.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 16,430 shares of company stock valued at $2,255,061. 16.90% of the stock is currently owned by insiders.

American Financial Group Stock Down 0.5%

NYSE AFG opened at $143.70 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49. American Financial Group, Inc. has a 52 week low of $123.09 and a 52 week high of $150.02. The stock has a market capitalization of $11.92 billion, a P/E ratio of 12.56 and a beta of 0.62. The stock has a fifty day moving average of $141.69 and a 200-day moving average of $134.67.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results 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. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.85 billion. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.14 earnings per share. On average, equities research analysts forecast that American Financial Group, Inc. will post 11.87 EPS for the current year.

American Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 15th. American Financial Group’s dividend payout ratio (DPR) is 30.77%.

American Financial Group Company 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.