Korea Investment CORP Boosts Holdings in American Financial Group, Inc. $AFG

Korea Investment CORP grew its position in shares of American Financial Group, Inc. (NYSE:AFG) by 118.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 46,588 shares of the insurance provider’s stock after buying an additional 25,300 shares during the quarter. Korea Investment CORP’s holdings in American Financial Group were worth $5,880,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in American Financial Group by 395.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,520,714 shares of the insurance provider’s stock worth $331,071,000 after buying an additional 2,012,027 shares during the last quarter. AQR Capital Management LLC lifted its stake in American Financial Group by 240.0% in the first quarter. AQR Capital Management LLC now owns 585,841 shares of the insurance provider’s stock valued at $76,821,000 after buying an additional 413,516 shares during the last quarter. Vestor Capital LLC boosted its holdings in shares of American Financial Group by 64,631.3% in the second quarter. Vestor Capital LLC now owns 388,388 shares of the insurance provider’s stock valued at $49,018,000 after acquiring an additional 387,788 shares during the period. Nuveen LLC purchased a new position in shares of American Financial Group during the first quarter worth approximately $30,442,000. Finally, Millennium Management LLC grew its position in shares of American Financial Group by 166.7% during the first quarter. Millennium Management LLC now owns 280,012 shares of the insurance provider’s stock worth $36,777,000 after acquiring an additional 175,015 shares during the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Financial Group

In related news, CFO Brian S. Hertzman sold 1,777 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $142.51, for a total transaction of $253,240.27. Following the transaction, the chief financial officer owned 11,300 shares of the company’s stock, valued at $1,610,363. This represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 17.40% of the stock is currently owned by company insiders.

American Financial Group Stock Down 1.7%

Shares of NYSE:AFG opened at $135.32 on Tuesday. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.02. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $138.61 and its 200-day simple moving average is $132.28. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 14.87 and a beta of 0.78.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.34. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, November 17th. American Financial Group’s dividend payout ratio (DPR) is currently 36.97%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of American Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American Financial Group in a report on Tuesday, November 25th. Keefe, Bruyette & Woods decreased their target price on shares of American Financial Group from $127.00 to $124.00 and set a “market perform” rating for the company in a research note on Tuesday, August 12th. Piper Sandler boosted their price target on American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $142.00 price objective on shares of American Financial Group in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $135.00.

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.